| | | | | Commentary | | Singapore |  | The Straits Times index gained 0.95% or 29.07pts to 3083.6 (day range: 3087.9 - 3060.97) on Friday. The index is above its 20d MA (@ 3047) and below its 50d MA (@ 3116). 53% of the index constituents are above their 20D MA (vs 50% the previous session) and 43% of the shares are above their 50D MA (vs 37%). Technically, the index has managed to stay above the 20-day moving average and kept trading on the upside. Crossing above 3120 would open a path toward the next upside target at 3180. Key support is located at 3015.
The HSI index rose 0.31% or 80.19pts to 26183.53 (day range: 26197.31 - 25850.04) on Friday. The index is above its 20d MA (@ 25607) and below its 50d MA (@ 26273). 82% of the index constituents are above their 20D MA (vs 70% the previous session) and 52% of the shares are above their 50D MA (vs 36%). Technically, the index has managed to stay above the 20-day moving average and kept charging higher. The rel ative strength index climbed above the neutrality level of 50, showing an upward momentum for the index. As long as the level of 25000 holds as the key support, the index still stands chances of revisiting 26600 on the upside. However, breaking below 25000 would trigger a further decline toward 24100 on the downside. |
| Straits Times ST: rebound expected. | | Pivot: 3015.00
Our preference: long positions above 3015.00 with targets at 3120.00 & 3180.00 in extension.
Alternative scenario: below 3015.00 look for further downside with 2955.00 & 2860.00 as targets.
Comment: the RSI calls for a rebound.
| | In order to leverage this directional view we have selected the following warrant: | | Strike | 3400.00 | | Expiry | 29/03/2019 | | Delta | 0.3 | | Ticker | MGIW | | Issuer | Macquarie Bank | | Name | STI MBL ECW190329 | | Conv ratio | 2500.0 | | Eff. Gearing | 11.5 | | Warrant Strategy |  |
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| |  | | Opinion published is a ST (short-term) view. Green Lines Represent Resistance | Red Represents Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced |
| Hang Seng ST: rebound in sight. | | Pivot: 25000
Our preference: long positions above 25000 with targets at 26600 & 28000 in extension.
Alternative scenario: below 25000 look for further downside with 24100 & 23400 as targets.
Comment: the RSI calls for a rebound.
| | In order to leverage this directional view we have selected the following warrant: | | Strike | 26400.00 | | Expiry | 28/12/2018 | | Delta | 0.5 | | Ticker | TOYW | | Issuer | Macquarie Bank | | Name | HSI MBL ECW181228 | | Conv ratio | 1200.0 | | Eff. Gearing | 16.5 | | Warrant Strategy | |
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| |  | | Opinion published is a ST (short-term) view. Green Lines Represent Resistance | Red Represents Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced |
 | MA (50) & MA (20): The most simple trend indicators are Moving Averages. They simply correspond to an average calculated on an evolving time scale (20 and 50 periods): every day, the oldest value (often taken at the close) in the average calculus is replaced by the value of the new session.
Bollinger bands: are represented by 3 different bands and are derived from moving averages. The middle band corresponds to a simple moving average (MA (20)). The level of the upper band, in every point, corresponds to the sum of the level of the middle band and twice the value of the standard deviation associated to the 20-day moving average. Reciprocally, the level of the lower band corresponds to the level of the middle band diminished by twice the value of the standard deviation associated to the 20-day moving average. An envelop of the stock price is thus determined. This makes it possible to then identify the variation margin in which the stock should stay almost systematically. In the case of a stock following a Gauss law, 95 % of the trades will thus occur between these bands.
RSI (14): the Relative Strength Index aims at establishing a reference scale independently from the stock prices levels themselves. As the RSI has boundaries (0 and 100), it then becomes very easy to determine overbought (above 70) and oversold (below 30) areas. In addition, just as on prices themselves, supports and resistances can appear, especially when nearing the neutrality zone (near 50). Thus, the RSI is one of the most commonly used counter-trend indicators.
It is based on the average of rises and drops of price, with the formula:
RSI = 100 - [100 / (1 + RS)]
Where RS represents the average of up closes divided by the average of down closes on the considered period (14). | |
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Copyright 2018 - TRADING CENTRAL | | Warrants involve risk and are not suitable for everyone. Prior to buying or selling a warrant, investors should receive appropriate training or documentation on warrants characteristics from their broker, from the Singapore Exchange or from one of the issuers. TRADING Central is not a broker-dealer. TRADING Central is not affiliated with the Singapore Exchange, the issuers of warrants mentioned in this site or their affiliates. Investors should exercise judgment and perform adequate due-diligence prior to making any investment. | | |
Selections are made from structured warrants issued by Supporting Parties.
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The information contained in this Newsletter is obtained from sources believed to be reliable and accurate as at the date of publication. However, TRADING CENTRAL has not verified the materials, which may not be complete or accurate. Opinions, estimates and other information contained herein may be changed or withdrawn without notice. Any prices and quotes published in this Newsletter are purely indicative and for information purposes only. Indicative prices and quotes shown in this Newsletter may vary significantly from indicative prices or quotes available from other sources.
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Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance.
The warrant issuers and their affiliates may from time to time take proprietary positions, and may have long or short positions or other interests, in the investment products. The warrant issuers and their affiliates are or may also be involved in other financial, investment and professional activities which may on occasion give rise to interests or a conflict of interests in respect of the investment products. The warrant issuers or their affiliates may make a market or appoint designated market makers to make a market for the warrants. The warrant issuers and/or the designated market makers make no representation nor can it give any assurance as to the liquidity in the trading of warrants as the warrant issuer or the designated market maker may be the only person quoting prices in the warrants.
This Newsletter is for general circulation only and is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. It does not address the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or adopting any investment strategies. None of the parties funding the publication costs of or supporting this Newsletter (the Supporting Parties) shall be liable to any Subscriber in any way for any liability whatsoever and howsoever arising. Each of the Supporting Party shall have the right under the Contracts (Rights of Third Parties) Act 1999 to enforce its rights under this Agreement.
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