Friday, 29 April 2016
OCBC Bank (O39) - 29 April 2016
OCBC Q1 profit down 14% on lower insurance income and higher allowances.
http://www.channelnewsasia.com/news/singapore/ocbc-q1-profit-down-14-on/2741752.html
Technically, there seems to be selling before the results are out and it closed below the 50-day Moving Average today at $8.77.
The current support level is at about $8.67 and the next support is at $8.50 (100-day MA).
Thursday, 28 April 2016
UOB (U11) - 28 April 2016
UOB is the first among the three local banks to announce their Q1 results. http://www.channelnewsasia.com/news/singapore/uob-q1-profit-down-4-4/2738886.html
Technically it looks downtrend with support at $18.75 and $8.58 (50-day Moving Average). A good support will be at $18.35. The resistance is currently at $19.16 (20-day MA).
Wednesday, 27 April 2016
Straits Times Index - 27 April 2016
The Straits Times Index (STI) closed below the 200-day Moving Average (MA) at 2874.72 but above the 20-day MA on 27April 2016. It is still above the up-trend line.
Technically, if the up-trend line is broken, the next support will likely be at about 2,818 points.
If it trades above the up-trend line, the resistance will be at 200-day MA at 2890 and 2930.
Thursday, 21 April 2016
Asian Pay Tv Trust (S7OU) - 21 April 2016
Technically, Asian Pay Tv Trust (S7OU) listed on the SGX seems to be bottoming up. The recent low was $0.560 and it closed at day high of $0.610 on 21 April 2016. If the resistance of $0.610 is broken, there should be more upside to about $0.635. If $0.610 resistance is not broken, the support will be at $0.60 and $0.590.
Dividend yield projected for this year is 6.5% to 7.0%. Macquarie Singapore has divested APTT to Dynami Vision that is controlled by Lu Fang-Ming. http://www.btinvest.com.sg/markets/news/128173.html?source=si_news
Lu Fang-Ming is the Chief Executive Officer and Director of Hon Hai Precision Co., Ltd also known as Foxconn Technology Group. http://www.bloomberg.com/research/stocks/people/person.asp?personId=27865056&privcapId=883723
Foxconn is the world's largest electronic contractor manufacturer.
It will be interesting how he can contribute to Asian Pay Tv Trust when the takeover is completed.
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