Philip Chua Business Blog

Posts Tagged ‘weakness’

INVESTORS should use the recent correction to buy into markets, say strategists of two private banks. But banish the thought of a buy and hold approach, as volatility may well erase gains made during the year.
Says Credit Suisse Private Bank’s chief investment officer Stefan Keitel: ‘Buy on weakness, sell on strength. There will be two to three corrections in 2010 but also opportunities.
‘We think… more

With a clean violation of its July 08’09 low at 1.3831 and the 1.3747/33 levels, its Jun 16’09 low/.50 retracement(1.2328-1.5143 rally) established, risk of further weakness has scope towards the 1.3422 level, its .61 Fib retracement/May 18’09 low at 1.3422/09. However, our bearish view on EUR may be tempered with…

Having finally pushed through its Oct 13’09 low/range lows at 1.5706 the past week, we are now looking for further downside weakness towards its major support at the 1.5276 level, its .50 Fib Ret(1.3501-1.7041 rally). Before here lies a minor support at the 1.5351 level, its May 12’09 high. With…

AMID the general optimism over equities in Asia and the emerging markets, strategists at Barclays Wealth have sounded a note of caution over valuations in Asia. This runs counter to the consensus view that Asian growth is set to outstrip that of developed economies – a point that isn’t in dispute – and that market weakness is a buying opportunity.

Says Aaron Gurwitz, Barclays Wealth managing di… more

The pair followed through lower on the back of its failure at the 1.4578 level, its 2010 high to break below its strong support at the 1.4216 level and resume its weakness started from the 1.5143 level the past week. Further downside weakness remains on the cards but the only…

With a third consecutive week of downside weakness seeing USDJPY breaking through the 90.59/23 levels(Dec 21’09/Jan 15’10 lows) to close lower at 89.80 the past week, further decline is likely to be seen towards the 88.30 level, its Dec 14’09. The pair may find a breather at this level and…

The pair looks to build on its last week weakness after backing off higher prices ahead of the 1.4625 level, its Nov 03’09 low and breaking back below the 1.4446/79 levels. This development has increased further downside risk towards its psycho level at 1.4300 with a turn below there turning…

THE tiredness exhibited by the local market on Wednesday proved to be a precursor of things to come as prices fell yesterday across-the-board. Weighed down by weakness in Hong Kong and by expectations of a soft Thursday for Wall Street, the Straits Times Index finished 17.24 points down at 2,913.25, with the broad market recording 256 falls versus 190 rises, excluding derivatives. In the previous … more

Despite the pair’s two-day recovery seen the past week, its broader weakness triggered off the 1.5139/43 level continues to point lower. This is coming on the back of its previous week violation of its key support at the 1.4479 level, its Dec 02’09 low. With that said, further declines are…

WEAKNESS in Hong Kong and expectations of a possibly soft session for Wall Street meant that the local market underwent an indifferent session yesterday in which rotational punting of penny stocks was the main focus. The Straits Times Index, in the meantime, didn’t show much conviction throughout the day, spending most of the session moving in tandem with Hong Kong’s Hang Seng Index. With the latt… more