Plays for 24/8

Ok, STI didn’t want to break under 2500 last friday.
To end the week, DJIA traded high and closed up +155points
However, after the close, they reported the failure of 3 more US banks, among them was a really major lender called Gauranty Bank.
I don’t know how this is gonna affect our opening. If there wasn’t any news of the bank failures, I’m certain we’ll gap up pretty high.
But with the news of the bank failures, I’m not sure how the market will react.
I’m inclined to think possibly gap up at first then trade down heavily..

Anyway, I found a few interesting counters over the weekend.

**Sinomem tech
NR7, super strong move up.
I believe the retracement should be of significant magnitude as well.
Volume hasn’t fallen even though price is going nowhere.
Lots of players, if either are proven wrong, I’m certain they’ll switch sides and contribute to the magnitude of the next move.
Will be watching the 0.51 level to go short and the 0.57 level to go long.
long side, target 0.63, fib extension.
short side, target 0.45, 50% fib retracement level

***DBS
Something is obviously happening here. price is going sideways in a very tight range.
support $12.50, resistance $13

**Tat Hong
NR4, price is consolidating on the MAs.
volume is falling.
long side trade might be worth a swing for a few days.

*Hyflux
bollinger bands squeezed then came the break, could be the start of a new leg up, but that huge long-tailed doji conflicts with this.
Price broke a new high then immediately a long tailed doji followed.
Down side bias to test the breakout level around 2.75, then about 2.46 support of the recent retracements
However, if $3 goes, then we should see much higher.

**CSE
just broke out to a new high.
retracements covered the gap, volume very high on the breakout day.
should be a valid break to the upside.
Difficult to swing short term for a good risk/reward since the stoploss would have to be very far down.
I’d be playing it intraday, if at the end of the day, there’s a good profit buffer, then i’ll keep part of the position to capture more of the move.

edit: made clearer analysis on some counters. 
the ’ * ‘ next to the counter indicates the extent of my favour in counter that it’ll be a good trade.

Update for 5th August plays

Very nice moves from both picks, it’s 4pm now, they might move further or move up cos of short covering.

Venture corp went to a low of 8.64 after breaking 8.97 support

Hyflux went to a low of 2.46 after breaking 2.54 support

Plays for 5th Aug

STI took a big fall from the highs yesterday, might be time to get in for the short swings.
Here are a couple of the NR picks which I think show the most potential.
don’t have any plays to the upside really…

Venture Corp
Great volatility these past few days, I believe it’ll continue to the downside should STI finally decide to fall..
so downside bias for this one, 8.97 is the level to watch.

Hyflux
Quite like this company fundamentally.
Anyway, 2.54 is the level to watch to the downside, 2.66 to the upside
I have a downside bias for this one.

Plays for 4th August

Not all are NR picks. 26 results from the scans today..so only looked at the more volatile ones, and those which appear to be near more significant levels.

KS energy (edited, called it Noble by mistake)
Looks interesting, NR formed inside long tailed doji. volume falling off. resistance 1.38 level had a false break before, now the doji is formed just under it and against the upper bollinger band.

sc global
looks pretty interesting, flagging pattern, price looking at some resistance at 1.55, but should be good if that goes

hyflux
well, if you add the last 2 candles together, you’d get a long tailed doji, formed on good volume too.
if 2.54 goes, might have a retracement down to 2.35 – 2.40 levels.
risk/reward looks favourable for this counter to the short side.

swiber
$1.00 play, might be good for even a few bids if 1.02 goes.
note immediate resistance at 1.08