apf trading technical analysis market commentary 10 jan 2011
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APF Trading Technical Analysis Market Commentary 10 Jan 2011TRANSCRIPT
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10 January 2011 TECHNICAL ANALYSIS
Market Commentary
Wilmar International
Buy setup completed at the close of last friday following the TD Countdown 13 with prices respecting resistance perfectly.
A perfected buy setup (indicated by the green arrow) increases the probability of a 1-4 periods, in this case 1-4 weeks of price correction. (price increase)
Tenken Sen crossing below the Kijun Sen above the Kumo, a weak bearish crossover. Remember
how the Kumo serves as support/resistance? Here the Kumo is the support for prices. Hence a
bearish crossover is buffered by the Kumo. However please note that the depth of the Kumo is thin.
The depth of the Kumo signifies the strength of the support region. Next we turn to the Chikou for
confirmation. Chikou is also below prices, telling a bear story. The future Kumo is thin and twists
downwards.
The path of least resistance is for prices to correct for 1-4 bars and continue its descend until further price action suggests otherwise.
APF Trading Pte. Ltd. 9 Battery Road 12F Straits Trading Building Singapore 049910 Jay Ng [email protected] Glenn Ho [email protected] Website: www.apftrading.com www.asiapacfinance.com
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10 January 2011 TECHNICAL ANALYSIS
CHINA MERCHANT BANK
Tenkan Sen crossed below Kijun Sen at Friday's close above the Kumo, suggesting a weak bearish
crossover. The counter had been on a uptrend with excellent support from the Kumo. Chikou is
above prices at the moment. We expect prices to test the support of the Kumo with this weak bearish cross.
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10 January 2011 TECHNICAL ANALYSIS
SUMITOMO MITSUI
As the Tenkan Sen inches towards the Kijun Sen, prices entered the Kumo. This is a weak bull
crossover. Chikou did move above prices but Kumo future is not speaking the same bull story yet.
Prices might face significant resistance within this Kumo region (2647.25 - 2840)
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10 January 2011 TECHNICAL ANALYSIS
TOYOTA MOTOR
As the Tenkan Sen crosses above the Kijun Sen, prices entered the Kumo. This is a weak bull
crossover. Chikou did move above prices but Kumo depth is widening suggesting the resistance is
strong.
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10 January 2011 TECHNICAL ANALYSIS
MIZUHO FINANCIAL
Similar price action to Sumitomo. Tenkan Sen crossed above the Kijun Sen below the Kumo on
Friday's close. Chikou above Kumo. Note that for Mizuho, the Kumo is thinning out. and the Span A
(Orange line) is converging upwards. There is increased probability that prices might break out of the Kumo cloud which would further increase the probability of a rally.
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10 January 2011 TECHNICAL ANALYSIS
AUSTRALIA AND NEW ZEALAND BANKING GROUP
Prices has been range bound between 20.00 and 26.00 since Aug 2009.
Prices have been well support by a thick Kumo for 2010. However the Kumo is thinning out and
support begins to weaken. We are watching closely subsequent developments regarding the
movement of Chikou and also a bearish Kumo breakout following the recent Tenkan/Kijun Crossover.
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10 January 2011 TECHNICAL ANALYSIS
HOUSING DEVELOPMENT FINANCE CORP
Beautiful bull trend seems intact other than the recent Tenkan/Kijun Crossover.
Note however this crossover is very weak. The Chikou is still sitting nicely above the prices and Kumo future is bullish. Depth of Kumo is consistent, offering very good support.
We expect prices to magnet around the Kijun Sen. Longer term, prices are skewed towards the
upside unless prices action dictates otherwise subsequently.
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10 January 2011 TECHNICAL ANALYSIS
LG CHEM
We expect the bull rally to continue.
On the Ichimoku system, Nice bull rally Kumo future with sufficient depth provides solid support.
Chikou continues to be higher than prices while the Tenkan Sen stays above the Kijun Sen since its
last crossover which resulted in nearly doubling of stock prices.
TD Sequential indicated potential buying exhaustion. However momentum continues to kick in and
prices break higher above the risk level on a qualified basis (indicated as a full magenta line instead of dotted line).
We expect prices to continue its uptrend
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10 January 2011 TECHNICAL ANALYSIS
USDIDR
Kumo cloud is thinning out, reducing the resistance it offers. at the same time the Tenkan Sen is
converging towards the Kijun Sen, looking for a weak bullish crossover from below the Kumo. Price
are howering around Kijun Sen. Chikou is however still below prices. We would watch this pair
closely for near term price action developments.
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signals, trading systems, execution services and trading platforms. The firm also conducts research and technical analysis with a focus on Ichimoku Kinko Hyo and DeMark Indicators.