Entering correction period for a few days

A very tradisional bearish head and shoulder formation had formed today closed with a long black candle. This will lead to the next support level 3090.

Price of rice and sugar are rising. SGX: Wilmar, IndoFood, GoldAgri & Olam

Price of rice has made a 18 months high and sugar price are rising as well. Therefore, highly recommend stocks like Wilmar, IndoFood, GoldAgri and Olam in SGX.

KLSE: Landmark (1643) (Update: Bottom Head&Shoulders)

A formation of " bottom head & shoulders " formed today which is a bullish signal. However, a potential evening shooting star formed at the same time. This might lead to a reversal for this stock. On the other hand, any break above the key resistance around 1.44 or 1.45 is a confirmation of the bullish trend for this stock. Just be cautious.

SGX: BakerTech (Break-out down trend line)

BakerTech has been gone for sideway for more than 3 months. Today, it break above the trend line again with some higher volume. However, it might face the strong resistance on 0.455.

SGX: SunVic (Break-out down trend line)

From the chart, we can see any break-out of the trend line will lead to a high rising for this stock. Furthermore, the stochastic is showing has triggered buying signals whenever there is a break above.

As SunVic is a chemical company which supply chemicals that for textiles, coating and also productions of painting. And their main customers are from China. Therefore, high demand in China will lead to high profit for this company. As we know, China is having some measure to prevent housing bubbles and this may lead to lower demand of housing and indirectly might affect SunVic company demand products.

However, on the other hand, SunVic announced for 800%++ growth in net profits and a buy call from Philip Securities.