Today is the first day of another new month, and also the last day of the two-month circuit breaker period (which the Singapore government put in place since 07 April 2020 in a bid to contain the community spread of Covid-19 in the country.) I certainly hope that all of you who are reading this post are doing great so far.

 

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1100  followers.

After a two week break, I’m here once again to share with you my personal technical analysis on the movement of Singapore’s benchmark Straits Times Index (STI), as well as the movements of all 30 blue chip companies in the coming week ahead.

Before I begin, a disclaimer – whatever you are about to read from this point onward is based on my personal technical analysis, which I am sharing with you for educational purposes only. They do not represent any buy or sell calls for any other companies listed below. Please do your own due diligence before you make any trading/investing decisions.

With that out of the way, let us first take a look at the weekly movements of the STI below:

Straits Times Index’s Movements on a Weekly Timeframe

Compared to the week before, STI gained 10.92 points, or +0.44%. In the week ahead, my take is that the STI may once again attempt to break above the resistance at 2,534 points. If it is able to do so, then it may move up further towards the next resistance line at 2,628 points. Otherwise, the STI may once again move in a tight range just like the week before.

Now, here are my technical analysis of each of the 30 blue chip companies’ possible share price movements in the week ahead (based on their share price movements on a weekly timeframe):

 

1. Ascendas REIT (SGX:A17U)
Ascendas REIT’s Unit Price Movements on a Weekly Timeframe

The unit price of Ascendas REIT went up by 18 cents compared to the week before to close at S$3.13 last Friday (29 May.)

In terms of trading volume, it is higher than last week. Also, coupled with MACD in an uptrend position, it is highly possible that the REIT’s unit price may break above the S$3.15 resistance line and move higher in the week ahead.

 

2. CapitaLand (SGX:C31)
CapitaLand’s Share Price Movements on a Weekly Timeframe

Since mid-April 2020, CapitaLand’s share price has been moving in the range between S$2.82 and S$3.02.

Personally, I feel that the conglomerate’s share price is likely to continue to move in this range in the coming few days ahead.

 

3. CapitaLand Commercial Trust (SGX:C61U)
CapitaLand Commercial Trust’s Unit Price Movements on a Weekly Timeframe

The unit price of CapitaLand Commercial Trust broke past 2 resistances (at S$1.61 and S$1.74) last week – the unit price of the REIT closed at S$1.75 last Friday.

As MACD have also crossed upwards into an uptrend position, chances is high that the REIT’s unit price may continue its upward climb in the week ahead – and possibly up to the next resistance line at S$1.87.

 

4. CapitaLand Mall Trust (SGX:C38U)
CapitaLand Mall Trust’s Unit Price Movements on a Weekly Timeframe

Just like CapitaLand Commercial Trust, retail REIT CapitaLand Mall Trust also broke above 2 resistances last week (at S$1.92 and S$2.02) and the week ended with the unit price at S$2.03.

In terms of trading volume, it is slightly higher compared to the week before; also, coupled with the fact that MACD have also just crossed into an uptrend, it is likely that the unit price of the retail REIT will continue to trend higher in the week ahead.

 

5. City Developments (SGX:C09)
City Developments’ Share Price Movements on a Weekly Timeframe

Compared to the week before, the share price of City Developments went up by 31 cents, or 4.21%, to close at S$7.69.

Looking at the trading volume, it is higher compared to the week before, suggesting that it is quite likely that the share price move along the green uptrend line and continue its upward climb in the week ahead.

 

6. ComfortDelGro (SGX:C52)
ComfortDelGro’s Share Price Movements on a Weekly Timeframe

ComfortDelGro’s share price fell by 10 cents (or down by 6.49%) compared to the week before to close at S$1.44, just one cent away from the S$1.43 support line.

Looking at the much higher trading volume in the week that just passed (compared to the week before), it seems likely that its share price will continue to weaken in the week ahead – should it break under the S$1.43 support line on a high volume, then its share price may possibly move towards the next support line which can be found at S$1.17.

 

7. Dairy Farm International (SGX:D01)
Dairy Farm International’s Share Price Movements on a Weekly Timeframe

Last week was the third week in a row where Dairy Farm International’s share price closed lower compared to the week preceding it. Also, looking at the trading volume for the three weeks, it has been increasing, suggesting that the share price of the company is very likely to trend downwards in the week ahead, towards the US$3.84 support line.

 

8. DBS (SGX:D05)
DBS’ Share Price Movements on a Weekly Timeframe

Since mid-April 2020, DBS’ share price has largely been moving within the range of S$18.67 and S$19.75.

The MACD looks like it’s about to turn into an uptrend position. Personally, I feel that in order for the bank’s share price to move upwards, it need to break above the S$19.75 resistance line on a high volume. Otherwise, it is likely to continue to move rangebound, just like in the previous weeks.

 

9. Genting Singapore (SGX:G13)
Genting Singapore’s Share Price Movements on a Weekly Timeframe

Genting Singapore’s share price have gone up by 3 cents, or +3.97%, compared to last week to close at S$0.785.

MACD is steadily moving upwards, suggesting that in the week ahead, the share price of Genting may continue to move in an upward direction. However, do take note that there is a resistance at the red downtrend line at S$0.825.

 

10. Hongkong Land (SGX:H78)
Hongkong Land’s Share Price Movements on a Weekly Timeframe

After falling to the support line at US$3.53 support line the week before, Hongkong Land’s share price bounced up last week, where it went up by 24.0 US cents to close at US$3.76.

As the trading volume is also higher compared to last week, I am of the view that the company’s share price may continue its recovery in the week ahead.

 

11. Jardine Cycle & Carriage (SGX:C07)
Jardine Cycle & Carriage’s Share Price Movements on a Weekly Timeframe

Jardine Cycle & Carriage’s share price went up by S$2.24 (or +11.42%) last week to close at S$21.86.

Looking at the trading volume, it has been on a rise; MACD have also just crossed into an uptrend position – both of them suggesting that the share price of the conglomerate is likely to break above the S$22.09 resistance line and trend higher from there in the week ahead.

 

12. Jardine Matheson (SGX:J36)
Jardine Matheson’s Share Price Movements on a Weekly Timeframe

Jardine Matheson’s share price continued its downward slide last week – and this is the third week in a row where the conglomerate’s share price have closed lower compared to the week before.

Additionally, when I look at the trading volume for the past three weeks, it has been on a rise, suggesting that it is very likely that its share price will continue to weaken in the week ahead – where it may move towards the support line at US$39.45.

 

13. Jardine Strategic (SGX:J37)
Jardine Strategic’s Share Price Movements on a Weekly Timeframe

Jardine Strategic’s share price finished the week (on 29 May) the same as the previous week – at US$19.95.

In the week ahead, my take is that its share price may either move up towards the US$20.70 resistance line, or down towards the US$18.60 support line.

 

14. Keppel Corporation (SGX:BN4)
Keppel Corporation’s Share Price Movements on a Weekly Timeframe

After breaking above the S$5.76 resistance line in late-April 2020, Keppel Corporation’s share price have been moving within the range of S$5.76 and S$6.36.

Looking at how the share price of the company have been moving in a tight range in the past 3 weeks (including last week), its share price is likely to move within the range of S$5.76 and S$6.36 in the week ahead.

 

15. Mapletree Commercial Trust (SGX:N2IU)
Mapletree Commercial Trust’s Unit Price Movements on a Weekly Timeframe

The unit price of Mapletree Commercial Trust broke above the S$1.97 resistance line last week to close at S$2.00 on Friday (29 May.)

As the MACD has just crossed upwards into an uptrend position, coupled by the fact that last week’s trading volume is higher than the previous week, it is likely that the REIT’s unit price may continue its upward climb in the week ahead – towards the next resistance line at S$2.07.

 

16. Mapletree Logistics Trust (SGX:M44U)
Mapletree Logistics Trust’s Unit Price Movements on a Weekly Timeframe

Mapletree Logistics Trust had a great week – in that its unit price went up by 22 cents, or +12.02%, compared to the week before to close at S$2.05, just 3 cents away from its current 52-week high of S$2.08.

Looking at the much higher trading volume last week (compared to the previous week), and that MACD is in an uptrend, I feel that the logistics REIT’s unit price will continue to move upwards in the week ahead.

 

17. OCBC (SGX:O39)
OCBC’s Share Price Movements on a Weekly Timeframe

OCBC’s share price have been moving in a range between S$8.55 and S$8.94 since early-April 2020.

Personally, I feel that in the week ahead, its share price will continue its rangebound movement.

 

18. SATS (SGX:S58)
SATS’ Share Price Movements on a Weekly Timeframe

The share price of SATS went down by 13 cents, or -4.66% compared to last week to close at S$2.66.

However, its trading volume for last week was much higher compared to the week before, suggesting that the company’s share price may continue to weaken in the week ahead, towards the S$2.56 support line.

 

19. Sembcorp Industries (SGX:U96)
Sembcorp Industries’ Share Price Movements on a Weekly Timeframe

Sembcorp Industries’ share price broke under the S$1.49 support line last week, and on a high volume, suggesting that its share price will continue to slump in the week ahead – towards the next resistance line at S$1.28.

 

20. SGX (SGX:S68)
SGX’s Share Price Movements on a Weekly Timeframe

SGX’s share price plunged by 15.77%, or S$1.55 compared to the week before to close at S$8.28, on news that MSCI Inc announced that it will be moving its licensing for derivative products on a host of gauges to Hong Kong from Singapore next year.

As MACD have also crossed downwards into a downtrend, it is highly likely that the share price of Singapore’s stock exchange is likely to slump further – towards the support line at S$8.10 in the week ahead.

 

21. SIA (SGX:C6L)
SIA’s Share Price Movements on a Weekly Timeframe

After closing at S$3.63 the week before, SIA’s share price recovered and closed at S$3.82 resistance line last Friday (29 May.)

However, compared to the week before, the trading volume was significantly lesser. Additionally, MACD is still in a downtrend. Personally, I feel two scenarios could happen here – if it is able to break above the S$3.82 resistance line on a high volume, then it may move higher from there; otherwise, its share price could move towards the support line at S$3.42.

 

22. SingTel (SGX:Z74)
SingTel’s Share Price Movements on a Weekly Timeframe

SingTel’s share price closed lower for four weeks in a row (including the week which ended on 29 May.) Also, looking at the trading volume in the same four weeks, it has been gradually increasing, suggesting that in the week ahead, the telecommunications company’s share price is likely to continue its downward slide, towards the S$2.38 support line.

 

23. SPH (SGX:T39)
SPH’s Share Price Movements on a Weekly Timeframe

SPH’s share price plunged by 21 cents, or -14.09% compared to the week before to close at S$1.28.

Looking at last week’s trading volume, it was a much higher one compared to the week before, and coupled by MACD being in a downtrend, it is likely SPH’s share price will continue to weaken in the week ahead – towards the S$1.20 support line.

 

24. ST Engineering (SGX:S63)
ST Engineering’s Share Price Movements on a Weekly Timeframe

ST Engineering’s share price failed to break above the red downtrend line last week, even though its share price recovered from the fall from the week before.

In the week ahead, it will very much depend on whether or not the share price of the company can break above the red downtrend line and also the resistance line at S$3.25 on a high volume – if it manages to do so, then the share price is likely to move up further from here. Otherwise, it will head towards the support line at S$3.08.

 

25. ThaiBev (SGX:Y92)
ThaiBev’s Share Price Movements on a Weekly Timeframe

ThaiBev’s share price closed lower for 4 weeks in a row (including the week which just passed on 29 May.)

However, compared to the week before, the trading volume have come down, suggesting the downward slide may be coming to an end. But having said that, MACD is still in a downtrend position. As such, my personal feel is that in the week ahead, the share price could move in either direction – either towards the S$0.675 resistance line, or down towards the S$0.585 support line.

 

26. UOB (SGX:U11)
UOB’s Share Price Movements on a Weekly Timeframe

Since end of March 2020, the share price of UOB have been moving in a range between S$18.92 and S$20.37.

While trading volume for the most recent week that just passed is higher than the week before, MACD is still in a downtrend, suggesting that the share price of the Singapore bank will continue to move in this range in the week ahead.

Do take note that the bank will be holding its AGM for FY2019 on Friday, 05 June, in the afternoon – I will be attending and taking notes, and provide a summary in due course, so do keep a lookout for it.

 

27. UOL (SGX:U14)
UOL’s Share Price Movements on a Weekly Timeframe

UOL’s share price recovered last week to close just one cent above the S$6.83 resistance line (at S$6.84.)

In terms of trading volume, it is somewhat the same compared to the week before. But MACD is still in a downtrend. As such, the share price could either fall below the resistance-turned-support line at S$6.83 and move lower, or continue its upward move in the week ahead.

 

28. Venture Corporation (SGX:V03)
Venture Corporation’s Share Price Movements on a Weekly Timeframe

From the looks of the share price movements the past few weeks, it seems that the share price is unable to break above the red downtrend line.

As such, in the week ahead, if the share price is able to break through this red downtrend line on a high volume, then it is likely to move up towards the S$16.00 resistance line. Otherwise, the share price may move towards the S$14.65 support line.

 

29. Wilmar International (SGX:F34)
Wilmar International’s Share Price Movements on a Weekly Timeframe

Wilmar International’s share price broke past the S$3.80 and S$3.93 resistance lines last week (which ended 29 May) to close at S$3.98. Trading volume is also higher compared to the week before.

Also, MACD is in an uptrend – suggesting that it is highly likely that the share price of the company is likely to continue its upward move towards the S$4.06 resistance line in the week ahead.

 

30. Yangzijiang Shipbuilding (SGX:BS6)
Yangzijiang Shipbuilding’s Share Price Movements on a Weekly Timeframe

Yangzijiang’s share price went up by 2 cents compared to last week to close at S$0.940 on Friday, 29 May.

Trading volume compared to the week before was slightly higher, and MACD is in an uptrend position – this suggests that it is likely that the share price of the company will continue its upward movement. But do take note that there is a resistance at around S$0.980 (where the red downtrend line is.) If it is able to break above this line on a high volume, then its share price could move up towards the resistance line at S$1.06.

 

Announcement: Another Pause in my Weekly Technical Analysis Updates for STI and 30 Blue Chip Companies Next Week

Due to time needed to work on my summary after UOB’s upcoming AGM on Friday (05 June) afternoon, I will not be posting my technical analysis of the movements of STI and 30 blue chip companies next Monday.

I will be posting the next update the following Monday, 15 June.

Disclaimer: Please note that the above sharing is for your educational purposes only, and it does not imply any buying/selling calls for any of the companies above. At the time of writing, I am a shareholder of Ascendas REIT, CapitaLand Mall Trust, ComfortDelGro, DBS, SATS, SIA, SingTel, OCBC, and UOB.

 

Once again, this article is a guest post and was originally posted on ljunyuan‘s profile on InvestingNote. 

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