Plays for 21st Aug

Watching a few counters
Sembmar
NR4 + 3-5 drop bar.
appears to have a double top at 3.40, but receiving support from moving averages and figure at $3.00.

Yanlord
NR4, high volatility
Price has been getting messy lately, moving under the moving averages, therefore slight downward bias.

Indoagri
NR7, high volatility
One way traffic on this chart, UP.
Personally I’m thinking it’s gonna find 1.60 before it goes higher again.

Straitsasia
NR7
Price appears to be struggling to move higher.
Significant volume this week, but failed to move it very high, indicates a lot of sellers waiting up there.
Downward bias.

Plays for 3rd August

Lotsa results on the NR scan, I see that most of the charts are basically doing flags or consolidations.
Flags are continuation patterns, so it seems like there will be another test of the highs for these counters.
SGX seems to have broken above the last candle, this triggers a long swing, tho i wouldn’t swing it long when the STI is so close to resistance.

Parkway Holdings has been testing the 2.12 level for the past 3 sessions. this play is interesting, break of 2.12 could signal further upside.
Volume dipped on the last trading session which formed the NR..something’s up, nobody wants to play cos they’re waiting for some direction from price.
Break of 2.12 might result in a lot of sideliners jumping in, that could send price a lot higher, but long swing trades don’t appeal to me until we have a clearer market outlook from the STI. Break of 2.12 might be a fake break, but i think it’ll be worth playing at least on intraday volatility.

Hiap Hoe
Price has over extended it seems, a break below the last low could be a good sign that price is weakening.
For this counter, it’s quite clear that spikes in volume preceed retracements.
Right now we’re seeing a very strong amount of volume, so perhaps a strong retracement could follow.

Allgreen
Looks really interesting as well, long tailed doji can be seen testing the high made 3 candles before it.
A break above 1.27 could yield a profitable long side play.
A break below 1.18 could lead to a profitable short side play.
Check your risk/rewards before taking any trades.

Sembcorp Marine
Similar movement to SGX, however it closed on last week’s high.
The last high was made in june at 3.16
So it’s facing resistance now, should be good if it break that.

But again, I’m a little apprehensive about long side swing trades at the moment.