Sunday, December 26, 2010

On my radar - Dec 26

Below are stocks that I am looking at this week. I may or may not trade these stocks and may also be observing some for educational purposes.

a) Kim Eng - a week after the announcement of parties interested in acquiring Kim Eng, Kim Eng stock price rose very strongly (above upper Bolinger Band - last fri to thu)...but has consolidated on wed and thu, before climbing 5 cents to 2.46. The prices seem to have more upside potential? But importantly Kim Eng must first break the psychological resistance of 2.5...

b) SMRT - after consolidating at 2 dollars for a few weeks, the stock price closed at 2.04 on fri, it looked like it is forming a bearish descending triangle formation (with much downside if stock price breaks the 2 dollars support)...

c) Wilmar - after announcement of "diversification" into hotels and properties in China, which was obviously poorly regarded by research firms and investors, Wilmar share price saw a beating last week before climbing 5 cents on fri. Do watch and see if the 5 cents increase is a "dead cat bounce" (very likely due to low buying volume) - similar to the one last fri (that saw her price close at 6.01)

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