Daily Morning Note – 28 June 2018


Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.


Japfa Ltd – Daily timeframe – Bearish – Take Profit
– There was a Bearish Engulfing Bar rejection off the 0.670 resistance area on 27/06/18 with an overbought RSI signals a mean reversion lower next.
– Hence, with the current bearish price action, we have decided to close out our position in Japfa at 0.62 in anticipation of a deeper correction.

Wing Tai Ltd – Daily timeframe – Bullish
– There was a bullish break above the 1.94 immediate range high on 27/06/18 with an oversold RSI mean reversion signals a reversal higher next.
– Hence, with the current bearish price action, we have decided to close out our position in Japfa at 0.62 in anticipation of a deeper correction.Expect price to rebound higher next to test the 2.00 resistance area followed by 2.06.

For more information and additional disclosures, refer to the link here.


Oil prices rose to their highest level since November 2014 after a bigger-thanexpected drop in U.S. crude stockpiles added to a rally fuelled by a major Canadian supply outage, concerns about Libya’s exports and stepped-up efforts by the Trump administration to disrupt Iran’s petroleum exports.

THE owners of Goodluck Garden condominium, sold en bloc to Qingjian Group , will soon head to court to settle the fate of its collective sale after the Strata Titles Board (STB) issued a stop order on Wednesday.

CapitaLand Limited has acquired a prime mixed-use site in Chongqing worth 5.7b yuan. The acquisition will add over 2,100 units to the Group’s residential pipeline and double its retail network in fast-growing Chongqing..

Oxley Holdings Limited achieves 100% sales at the Verandah Residences within three months since its official launch.

Chasen Holdings Limited has secured S$38.4 million worth of new contracts in Asia and the US.

Catalist-listed startup incubator Trendlines Group Limited urged investors to have patience and trust that the market will catch on to the company’s business model. The company stock now trades at $0.12 vs IPO price of S$0.33 in 2015.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

Read the research report(s), available through the link(s) above, for complete information including important disclosures

Important Information

The information contained in this email and/or its attachment(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in this email do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before making a commitment to purchase or investing in the investment product(s) mentioned herein. In the event that you choose not to do so, you should consider whether the investment product(s) mentioned herein is suitable for you. PhillipCapital and any of its members will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. The information and/or materials provided “as is” without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials.
Confidentiality Note
This e-mail and its attachment(s) may contain privileged or confidential information, which is intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it. If you are not the intended recipient, you must not read, use, copy, store, disseminate and/or disclose to any person this email and any of its attachment(s). PhillipCapital and its members will not accept legal responsibility for the contents of this message. Thank you for your cooperation.


Contact us to Open an Account

Need Assistance? Share your Details and we’ll get back to you