With the recent rally, SGR continues to trade within its $25 – $30 range.
The recent selldown has seen SGR prices holding well at above the $20; a level depicted by the kumo as well.
We can also see that the current kumo is sloping up; a suggestion that it is trending upwards
Tenkan sen and Kijun sen cross has also been sighted on 18 March with the price level above the kumo. This is good signal to suggest that SGR is poised for a long term uptrend.
I just got the updated chart for DBA.
Yesterday, the price went down back into the kumo; it did not exhibit a convincing break.
The saving grace is the volume is not very high which suggest that there is no major sell down.
Moving forward, we want to see it trading above 24.57 and definitely above the support level of 24.36 defined by the kumo.
This could be either a
- cup and handle forming in progress
- or a failed cup formation
Wilmar is currently among one of the stronger stocks in STI.
On March 12, the chart shows a bullish signal.
Tenkan sen crosses the kijun sen.
The volume is not very high; a reflection of the current weak market conditions.
On the Â weekly chart, it has not break through the kumo resistant yet. Weekly resistant level is at around $3.72
The recent US rally has also seen this stock spike out of its channel.
Expect a little bit of pullback. This one is going into my watchlist.