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APF Trading Technical Analysis Market Commentary 10 Jan 2011www.apftrading.comwww.asiapacfinance.com
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TECHNICAL ANALYSIS10 JAN 2011
APF Trading
MARKET COMMENTARY
APF Trading
9 Battery Road12F Straits Trading Building
Singapore 049910
Glenn Ho
Website:www.apftrading.com
www.asiapacfinance.com
Wilmar International
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
Wilmar International
Kumo is the support for prices Bearish crossover is buffered by the
Kumo Note that the depth of the Kumo is thin Depth of the Kumo signifies the strength
of the support region Chikou is also below prices, telling a bear
story The future Kumo is thin and twists
downwards
Wilmar International
Path of least resistance is for prices to correct for 1-4 bars and continue its descend until further price action suggests otherwise.
CHINA MERCHANT BANK
CHINA MERCHANT BANK
Tenkan Sen crossed below Kijun Sen at Friday's close above the Kumo, suggesting a weak bearish crossover
Counter had been on a uptrend with excellent support from the Kumo
Chikou is above prices Expect prices to test the support of the
Kumo with this weak bearish cross.
SUMITOMO MITSUI
SUMITOMO MITSUI
Tenkan Sen inches towards the Kijun Sen, prices entered the Kumo
Weak bull crossover Chikou above prices Prices might face significant resistance
within this Kumo region (2647.25 - 2840)
TOYOTA MOTOR
TOYOTA MOTOR
Tenkan Sen crosses above the Kijun Sen Prices entered the Kumo Weak bull crossover Chikou did move above prices but Kumo
depth is widening suggesting the resistance is strong
MIZUHO FINANCIAL
MIZUHO FINANCIAL
Similar price action to Sumitomo Tenkan Sen crossed above the Kijun Sen
below the Kumo on Friday's close Chikou above Kumo Kumo is thinning out Span A (Orange line) is converging upwards Increased probability that prices might
break out of the Kumo cloud which would further increase the probability of a rally
AUSTRALIA AND NEW ZEALAND BANKING GROUP
AUSTRALIA AND NEW ZEALAND BANKING GROUP
Prices has been range bound between 20.00 and 26.00 since Aug 2009
Well supported by a thick Kumo for 2010 Kumo is thinning out and support begins
to weaken Watching closely subsequent
developments regarding the movement of Chikou and also a bearish Kumo breakout following the recent Tenkan/Kijun Crossover
HOUSING DEVELOPMENT FINANCE CORP
HOUSING DEVELOPMENT FINANCE CORP
Beautiful bull trend seems intact other than the recent Tenkan/Kijun Crossover
Crossover is very weak Chikou is still sitting nicely above the prices and
Kumo future is bullish Depth of Kumo is consistent, offering very good
support Expect prices to magnet around the Kijun Sen.
Longer term, prices are skewed towards the upside unless prices action dictates otherwise subsequently
LG CHEM
LG CHEM
Expect the bull rally to continue Kumo future with sufficient depth provides solid
support Chikou continues to be higher than prices Tenkan Sen stays above the Kijun Sen TD Sequential indicated potential buying
exhaustion 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).
USDIDR
USDIDR
Kumo cloud is thinning out, reducing the resistance it offers
Tenkan Sen is converging towards the Kijun Sen, looking for a weak bullish crossover from below the Kumo
Price hovering around Kijun Sen Chikou is however still below prices Watch this pair closely for near term
price action developments
APF Trading is a trading advisory firm offering clients advice on multi-asset trading strategies, 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.
