$STI-SES, $200-FTSB, $N225-NKI: Asian Stock Market Monthly Update

STI INDEX:

$STI-SES Singapore Stock Market Monthly Update.   Since June 2009, the Singapore stock market has been in a consolidation pattern between the low region of 2528 and the high regions of 3548.   This monthly update will analyze the market to see the current state of the market.

Below is the MONTHLY STI index based on esignal chart:

As you can see, on Mar 2017 it broke a resistance level @ 3146.89. This month, that resistance has become the support and the next resistance is @ 3205.62. March 2017 also was the month where it turn from Bearish to Neutral.

Let us look at the Weekly chart. Below is the Weekly STI index based on esignal chart:

By zooming in to the weekly chart, we can see that price has been trying to break the weekly resistance of 3179.47. However, it has been stopped by that level 6 times in the past 7 weeks. Until it breaks this level, it will ping pong between the weekly resistance and monthly resistance.

Next, we head down to the Dialy time frame. Below is the Daily STI index based on esignal chart:

Daily shows a strong bullish movement with a minor pullback last week. It is in a trend continuation mode. And the next target is around 3179.47, which is the Weekly Resistance.

TRADE OPPORTUNITIES:

MC0-SES : Singapore 5 Timeframe Buy Ichimoku Email Alert   We received a 5 Timeframe Ichimoku Buy Email Alert on Apr 25, 2017. Here is the email alert:

We looked at a Bullish Breakout Trade on a 60m time frame as it has a strategy 4, which is a bullish cloud breakout strategy.  Below is the 60m chart provided by eSignal.

The entry was 2.894, initial stop of 2.840, and the target will be the next resistance on a higher timeframe @ 2.961. The reward risk ratio was more than 1:1, hence we decide to take the breakout trade as it did fit our trade plan. The trade has been triggered on the 27 Apr and we are still in the trade and as of 30 April 2017.

 

C2PU-SES : Singapore 5 Timeframe Buy Ichimoku Email Alert   We received a 5 Timeframe Ichimoku Buy Email Alert on Apr 25, 2017. Here is the email alert:

Based on the 3 Step Trading Plan published earlier. (https://www.ichimokutrade.com/c/?p=10431), we looked at a iMTF Bullish Pull Back Trade on a 60m time frame.  Below is the 60m chart provided by eSignal.

The entry was at 2.565, it is an iMTF™ support. The initial stop is at 2.555, and the target will be the pivot high @ 2.961. The reward risk ratio was more than 3:1, hence we decide to take the breakout trade as it did fit our trade plan.

 

Nikkei 225 INDEX:

$N225-NKI Japan Stock Market Monthly Update.Since April 2013, the Nikkei 225 has been trending bullish and only did a minor pull back in 2016 but broke the critical monthly support (17901) in Nov 2016. Since Dec 2016 it has been hovering for 5 months unable to break an iMTF™ resistance at 19295. Below is the Monthly chart provided by eSignal:

Let’s look at the Weekly chart. Below is the Weekly chart provided by eSignal:

Weekly is bullish but it has been hovering around the iMTF™ resistance at 19295 for about 20 weeks. It has about 6 weeks time to break the iMTF™ resistance at 19295 and do a bullish Breakout before the momentum becomes week. Until then, it will most likely bounce between the iMTF™ resistance at 19295 and the M/Wk Support of 17901.

Let’s take a look at the Daily Chart provided by eSignal:

In the beginning of April 2017, Nikkei 225 was bearish from the Daily time frame perspective. However, last week the momentum and sentiment returned to a neutral state.

 

Bursa Malaysia KLCI INDEX:

$200-FTSB Bursa Malaysia Stock Market Monthly Update.Since Sept 2015, KLCI has done a major pull back into the cloud and has been consolidating from there ever since. This month (Apr 2017) has broken the major iMTF™ resistance at 1751. Below is the Monthly chart provided by eSignal:

Let’s look at the weekly chart provided by eSignal:

Weekly has been in a consolidating pattern since September 2015. Weekly price is approaching a major resistance at 1784. March 2017, price finally made the push to break the consolidation boundary (1727), With price breaking this level and has yet to return/go lower than it, indicates that this is a strong bullish movement. The next movement up is towards the 1784 region.

Below  is the daily chart that is provided by eSignal:

Daily chart shows that is in a bullish trend continuation state. Last two weeks, there was a minor pullback below the KS line. Momentum is strong. We are looking at a high probability of reaching the Weekly Resistance of 1784.

 

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.

 

About the Author Eric Chai