If you have been following my weekly posts on the possible movement of STI and all 30 blue chip companies’ share price movements, you probably would be aware that I’ve mentioned before that, should the STI for the week closed above 2,560 points, we could see a possible change in trend (from a downward moving one to an upward moving one.)

When trading for the week ended last Thursday (09 April 2020), STI was at 2,571 points (above the 2,560 points.) That said, is an uptrend in sight? In my post today, I’d be sharing with you my personal thoughts on how the STI, as well as all the 30 blue chip companies’ share price may move in the week ahead (between 13 – 17 April 2020) based on a weekly timeframe…

1. Straits Times Index

Singapore’s Straits Times Index ended last week (09 April) at 2,571 points. It has crossed above 2,560 points (which I have mentioned last week, as well as in the week before, that should the index crosses above this point, the trend is said to have turned from a downward one to an upward one.)

Looking at the MACD and RSI, it looks like in the week ahead, it is possible that the upward movement may continue, where it could head towards the resistance line at 2,628 points.

2. Ascendas REIT (SGX:A17U)

The unit price of Ascendas REIT bounced up last week, where its unit price went up by 27 cents, or 10.71%, to close at S$2.79.

While the MACD and RSI suggests that in the week ahead, the unit price could possibly head up to the next resistance line at S$2.89, but last week’s trading volume is slightly lower than the week before, suggesting that there’s also a possibility that the unit price could retreat and break under the S$2.76 support line.

3. CapitaLand (SGX:C31)

CapitaLand’s share price climbed by 33 cents last week (or 12.60%) to close at S$2.95, where the red downtrend line is.

In the week ahead, should the share price of CapitaLand be able to beat the red downtrend line, then it is likely that the share price will test the resistance line at S$3.02. Otherwise, its share price may head back down to the support line at S$2.82.

4. CapitaLand Commercial Trust (SGX:C61U)

After breaking slightly under the S$1.35 support line the week before, the unit price of CapitaLand Commercial Trust rebounded last week, where it closed at S$1.46 on Thursday (09 April.)

Looking at the MACD and RSI, it seems likely that the unit price of the REIT may once again attempt to break above the resistance line at S$1.48 in the week ahead; if it manages to do so on a high volume, then the unit price could possibly head towards the next resistance line at S$1.61.

However, on the other hand, last week’s trading volume is lower compared to the week before, which suggests that there’s a chance the unit price could retreat to the S$1.35 support line.

5. CapitaLand Mall Trust (SGX:C38U)

CapitaLand Mall Trust’s unit price recovered after falling to the support line at S$1.52 the week before, where it closed at S$1.68 last Thursday (up by 16 cents, or 10.56%.)

However, the candlestick pattern last week resembles a doji – meaning that the unit price in the week ahead could move in either direction in the week ahead – either up towards the resistance line at S$1.72 (bullish), or down towards the support line at S$1.62 (bearish.)

6. City Developments (SGX:C09)

City Developments’ share price broke out of the red downtrend line, and climbing above the S$7.56 resistance line to close at S$7.72 last week.

Looking at both the MACD and RSI, it is possible that the share price could continue to climb upwards, and move towards the resistance line at S$8.23 in the week ahead.

7. ComfortDelGro (SGX:C52)

Looking at ComfortDelGro’s share price movement last week, it is similar to the week before, where on both weeks, it showed a rejection of lower price under the S$1.43 support line – suggesting that the share price fall could have bottomed, and may be heading back up.

In the week ahead, the share price could attempt to break out of the red downtrend line at around S$1.55 – if it’s able to do so, it may head up towards the resistance line at S$1.69. However, if it fails to do so, the share price could retreat back to the S$1.43 support line.

8. Dairy Farm International (SGX:D01)

Dairy Farm’s share price rebounded by 62 US cents, or 14.39% to close at US$4.93 last week.

Looking at its trading volume (which is higher than the week before), MACD, and RSI, it is likely that in the week ahead, the share price of Dairy Farm could break above the red downtrend line and head up towards the US$5.40 resistance line.

9. DBS (SGX:D05)

DBS’ share price is right at the red downtrend line at S$19.14 when trading for the week ended last Thursday (09 April.)

In the week ahead, should the share price be able to break above this red downtrend line, then it could head towards the resistance line at S$19.75. Otherwise, its share price could retreat, and head towards the support line at S$18.67.

10. Genting Singapore (SGX:G13)

Genting Singapore’s share price closed at S$0.725, right on the green uptrend line when trading for the week ended last Thursday (09 April.)

Looking at its MACD and RSI, it is likely that the share price may once again attempt to break above the S$0.740 resistance line and move higher from there in the week ahead; if it does (and on a high volume), then the share price could be headed to the next resistance line at S$0.870.

11. Hongkong Land (SGX:H78)

Hongkong Land’s share price, compared to the week before, went up by 36 US cents, or 9.25%, to close at US$4.25 when trading for the week ended last Thursday (09 April.)

However, looking at the trading volume for the last 3 weeks, it has been declining, suggesting that the upward movement may have weakened. As such, it is possible that in the week ahead, we may see the share price retreat to the US$3.99 support line.

But on the other hand, its MACD and RSI suggests that the company’s share price could move higher in the week ahead – if it does, its share price could possibly head up towards the US$4.34 resistance line and try to break above it.

12. Jardine Cycle & Carriage (SGX:C07)

Jardine Cycle & Carriage’s share price broke above the S$20.03 resistance line to finish the week (ended 09 April) at S$20.42.

Looking at both the MACD and RSI, it seems that in the week ahead, the share price could continue to move upwards to the S$22.09 resistance line. However, last week’s trading volume is slightly lower than the week before, suggesting that it’s also possible that the share price may break under the S$20.03, and down towards the green uptrend line at around S$19.25.

13. Jardine Matheson (SGX:J36)

The candlestick pattern last week was an inverse hammer, and from the looks of it, along with candlestick patterns for the past 2 weeks, there seem to be a rejection of higher prices above the US$49.75 resistance line.

Also, looking at the trading volume for the past 3 weeks, it has been on a decline, suggesting that in the week ahead, the share price could move down towards the US$44.60 support line.

14. Jardine Strategic (SGX:J37)

Jardine Strategic’s share price rebounded last week, where it broke above the US$22.80 resistance line to finish the week (on 09 April) at US$23.49.

Trading volume was also higher compared to the week before. Also, looking at both the MACD and RSI, it seems likely that in the week ahead, the share price could continue its upward climb towards the US$24.90 resistance line.

15. Keppel Corporation (SGX:BN4)

Keppel Corporation’s share price continued its upward climb last week, where its share price closed at S$5.72 when trading for the week ended last Thursday (09 April.)

However, looking at its trading volume the past 4 weeks, it seems to have declined, suggesting that its share price could retreat in the week ahead, where it could move back under the red downtrend line and towards the support line at S$5.24.

16. Mapletree Commercial Trust (SGX:N2IU)

Mapletree Commercial Trust’s unit price recovered after falling to S$1.50 the week before, where it closed just slightly above the resistance line at S$1.67 last week (at S$1.68.)

While both its MACD and RSI suggests that the REIT’s unit price could move up further in the week ahead (towards the S$1.77 resistance line), but last week’s trading volume was also lower than the week before, suggesting that there’s also a possibility that the unit price could break below the resistance turned support line at S$1.67 and head towards the next support line at S$1.57.

17. Mapletree Logistics Trust (SGX:M44U)

Mapletree Logistics Trust’s unit price staged a strong rebound last week, where it broke out of the red downtrend line, and even breaking the resistance lines at S$1.51, S$1.58, and S$1.65 to finish the week (ended 09 April) at the S$1.72 resistance line.

The MACD and RSI suggests that the REIT’s unit price could break above the S$1.72 resistance line and head towards the S$1.79 resistance line in the week ahead; but on the other hand, last week’s trading volume was lower than the week before, suggesting that it’s also possible that the unit price could retreat to the S$1.65 support line.

18. OCBC (SGX:O39)

OCBC’s share price recovered after falling to S$8.38 the week before to close at S$8.95 (up by 57 cents, or 6.90%.)

Looking at both the MACD and RSI, it seems possible that the share price could be headed towards the next resistance line at S$9.33. However, the trading volume last week was also lower than the week before, suggesting that it’s also possible that the share price could reverse to the S$8.55 support line.

19. SATS (SGX:S58)

SATS’ share price staged a rebound after falling to S$2.82 the week before to close at S$3.20 last week (up by 38 cents, or 13.48%.)

While both the MACD and RSI suggests that the share price could move towards the resistance line at S$3.36 in the week ahead, but last week’s trading volume was lower than the week before, suggesting that the share price could also break under the S$3.16 support line and move towards the next support line at S$2.96.

20. Sembcorp Industries (SGX:U96)

Looking at Sembcorp Industries’ candlesticks for the past 3 weeks, it seems that there’s a rejection of lower prices under the S$1.49 support line, suggesting that the share price drop could have bottomed.

From its MACD and RSI, its share price could continue its upward movement towards the S$1.70 resistance line in the week ahead.

21. SGX (SGX:S68)

SGX’s share price last week hit a new 52-week high at S$9.88 before retreating and closed at S$9.70.

While MACD have crossed into an uptrend, but looking at the trading volume for the last 4 weeks, it has been on a decline. Two scenarios could happen in the week ahead – if the bullish run were to continue, the share price could once again break above the S$9.80 resistance line and once again retest the 52-week high at S$9.88. However, if the bears were to come in to push the share price down, it could head towards the support line at S$9.46.

22. SIA (SGX:C6L)

SIA’s share price rebounded after closing at a low of S$5.50 the week before to close at S$6.13 last week (on 09 April.)

While the MACD and RSI suggests that the share price could continue its upward climb, but at the same time, last week’s trading volume was lower than the week before, suggesting that the share price could retreat in the week ahead.

In a bullish scenario, its share price could break above the S$6.22 resistance line, and head up towards the next resistance line at S$6.62. In a bearish scenario, its share price could break down towards the S$5.82 support line.

23. SingTel (SGX:Z74)

SingTel’s share price continued its upward climb for 3 weeks in a row, where it closed at S$2.71 when trading for the week ended last Thursday (09 April.)

Looking at the MACD and RSI, it seems that in the week ahead, its share price could continue heading up, where it could break above the S$2.74 resistance line and head towards the red downtrend line at around S$2.82.

However, the trading volume for the past 3 weeks have been declining, suggesting that the bulls may have weakened and as such, it’s also possible that in the week ahead, the share price could retreat back to the S$2.56 support line.

24. SPH (SGX:T39)

SPH’s share price continued to retreat last week, where it closed at S$1.54 when trading for the week ended last Thursday (09 April.)

Looking at the MACD and RSI, and also the trading volume, it seems likely that SPH’s share price could head towards the S$1.50 support line in the week ahead.

25. ST Engineering (SGX:S63)

ST Engineering’s share price rebounded after falling to a low of S$2.93 the week before, to close at S$3.26 last week (on 09 April.)

In the week ahead, it’s likely that ST Engineering’s share price could continue its upward movement, where it could move up towards the S$3.42 resistance line (looking at its MACD and RSI.)

26. ThaiBev (SGX:Y92)

ThaiBev’s share price have continued to close higher for 3 weeks in a row – its share price have closed at S$0.670 last Thursday (when trading for the week ended.)

While its MACD and RSI suggests that the upward movement may continue in the week ahead, but its trading volume has been on a decline for 3 weeks in a row, suggesting that the upward movement may be coming to an end. As such, the share price could either break above the S$0.675 resistance line and head towards the S$0.700 resistance line in the week ahead (bullish scenario), or reverse down towards the S$0.585 support line (bearish scenario.)

27. UOB (SGX:U11)

UOB’s share price closed at S$20.17 when trading for the week ended last Thursday (09 April.)

Its MACD and RSI suggests that the bank’s share price could head higher in the week ahead (where it could break above the S$20.37 resistance line and head towards the next resistance line at S$21.82), but its trading volume (which is lower than the week before) suggests that its share price could retreat back towards the S$18.92 support line.

28. UOL (SGX:U14)

After closing just one-cent above the S$6.36 the week before, UOL’s share price went up by 40 cents (or 6.29%) last week to close at S$6.76 (on 09 April.)

Looking at both the MACD and RSI, it seems that UOL’s share price in the week ahead may once again attempt to break above the S$6.83 resistance line (just like last week, where it attempted to break above the S$6.83 resistance line but failed) and move upwards if it manages to break this resistance line on a high volume.

29. Venture Corporation (SGX:V03)

Venture Corporation’s share price spiked last week, where it broke above the S$14.65 resistance line and closed at S$15.22 (on 09 April), where the red downtrend line is.

In the week ahead, should the share price be able to break above this red downtrend line, it could head up towards the S$16.00 resistance line. However, if it fail to break above this red downtrend line, then its share price could fall towards the S$14.65 support line.

30. Wilmar International (SGX:F34)

Wilmar International’s share price went up by 29 cents (or 9.24%) compared to the week before to close at S$3.43 (2 cents above the S$3.41 resistance line.)

While both the MACD and RSI suggests that the company’s share price may continue its upward movement towards the S$3.54 resistance line, its trading volume (which is lower compared to the week before) suggests that the share price may also break down the resistance turned support line at S$3.41 in the week ahead.

31. Yangzijiang Shipbuilding (SGX:BS6)

Last week was the fourth week in a row we saw Yangzijiang’s share price closing higher than the week before. However, I noticed that the trading volume have been on a downward fall for the past four weeks, suggesting that the bulls may have weakened – and if that’s the case, then in the week ahead, its share price could head down towards the S$0.895 support line.

On the other hand, looking at the MACD and RSI, it suggests that the share price could continue its upward movement – and if Yangzijiang’s share price were to continue to move upwards in the week ahead, then it could head up towards the resistance line at S$1.06.

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, Mapletree Commercial Trust, SATS, SIA, SingTel, OCBC, and UOB.

Launch Event for My First Book: building your REIT-irement portfolio

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