APF Trading Technical Analysis Market Commentary 27 Feb 2011

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Technical Analysis27 FEB 2011
Market commentary

• APF Trading

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APF Trading

• 9 Battery Road
• 12F Straits Trading Building
• Singapore 049910  
•  
• Jay Ng
• jay.ng_at_apftrading.com
•  
• Glenn Ho
• glenn.ho_at_apftrading.com
•  
• Website
• www.apftrading.com
• www.asiapacfinance.com

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Singapore Exchange
Kumo twist
Chikou Span breaching Senkou Span A
Weak support region gue to thin Kumo
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Singapore Exchange

• A word of caution for SGX longs
• 2 months since Tenkan Sen crossed below Kijun Sen
• Current price below both Kijun and Tenkan Sen, a
  bearish sign
• Concurrently, the Chikou Span breach the Senkou
  Span A, price test the support Kumo Region and
  the future Kumo twists
• What draws our attention is the weak support
  determined by the thin Kumo (circled)
• It would be very easy for prices to break
  downside of the Kumo
• If price breaks below the Kumo and Chikou is
  below prices, a strong bear trend would be in
  play.

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CIMB Group
Strong Kumo support
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CIMB Group

• Rally of more than 200 gains after the last
  bullish buy triggers
• For the first time since Apr 2009. Price closes
  for the week below Kijun Sen for 3 straight weeks
  now
• While all the other Ichimoku elements still show
  that it is in a bull trend, it is advisable to
  watch near term price action for a hint of a
  trend reversal
• The thick Kumo acts as strong support and the
  bull trend is still in play

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Newcrest Mining
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Newcrest Mining

• Recent weak bearish Tenkan Sen Kijun Sen
  crossover
• Chikou Span ended very near the close, meaning
  the close last week is near the close 26 weeks
  ago. A neutral sign
• The Kumo is thick, providing strong support.
• Notice the flat Senkou Span B, suggesting prices
  had not broken out of both the high and low for
  the past 52 weeks for a while now, suggesting
  sideway trading.
• A subsequent bullish Tenkan Sen/Kijun Sen would
  be a strong bull crossover.
• Meanwhile we expect prices to go sideways with
  support at Kumo

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Larsen Toubro
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Larsen Toubro

• After the last perfected TD Sell Setup, prices
  dropped 31.64
• Currently Chikou Span is below price and below
  the Senkou Span A, a bearish sign
• Kijun Sen is below Tenkan Sen and prices below
  Kumo, a bearish sign
• We expect prices to continue its descend, with a
  break below the Kumo Shadow at 1177 a chance to
  add to position

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Honda Motor
Price broken up of TDST line, expect current TD
sell countdown to reach completion, aligned with
bull rally indicated by Ichimoku lines
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Honda Motor

• After the medium strength Tenkan Sen/Kijun Sen
  crossover, Hondas price rallied about 17
• Prices also broken up of previous TDST line on a
  qualified basis (represented by solid green line)
• We expected prices to continue its rally and TD
  Sell Countdown to reach completion

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Kia Motor
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Kia Motor

• Solid run up following the Tenkan Sen/Kijun Sen
  crossover as prices broke out of weak resistance
  in early May 2009
• Notice how prices did not close for the week
  below the Kijun Sen since then
• Bull trend intact.
• Longs can consider a stop loss slightly below the
  Kijun Sen.

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• APF Trading is a trading advisory firm offering
  clients Managed Forex Accounts and 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.