TECHNICAL ANALYSIS

6 MAR 2011

MARKET COMMENTARY

APF Trading
APF Trading
9 Battery Road
12F Straits Trading Building
Singapore 049910  
 
Jay Ng
jay.ng@apftrading.com
 
Glenn Ho
glenn.ho@apftrading.com
 
Website:
www.apftrading.com
www.asiapacfinance.com
Wilmar International
Wilmar International
 This is an update to our post dated 10 Jan 2011, where we
concluded “The path of least resistance is for prices to
correct for 1-4 bars and continue its descend until further
price action suggests otherwise”
 Since our last commentary, prices closed that following
week higher, then descended to close this week just above
the 38.2% Fibo Retracement level
 Watch for the Chikou Span as it flirts with the lower band of
Kumo
 We maintain our view that prices would continue its descend
until further price action suggests otherwise
Kim Long Securities
Kim Long Securities
 Strong Bearish Tenkan Sen/Kijun Sen crossover
 Thick Kumo provides excellent resistance
 Next level of possible support at 10233.91 where
the Senkou Span B was flat (red line)
 The path of least resistance is for prices to go
further down
Bank Rakyat Indonesia
Bank Rakyat Indonesia
 Prices corrected after the weak bearish Tenkan
Sen/Kijun Sen crossover
 Found support at the Kumo and rebounded sharply
as of last week’s close
 Chikou Span now above prices
 We expect prices to stay sideways in the short term
and strategically bullish in the longer term with
strong support provided by the Kumo
Toshiba Corp
Toshiba Corp
 Prices broke upside of the Kumo following a weak
bullish Tenkan Sen/Kijun Sen crossover
 Concurrently, both prices and Chikou Span broke
above Kumo
 Also, we had a future Kumo twist
 Next possible resistance provided by the Kumo
shadow shown as white horizontal line
 We think it is a good time to start accumulating
longs with stop loss at the Kijun Sen
AU Optronics Corp
AU Optronics Corp
 Current Ichimoku tells a bearish story
 Price below Kumo, Tenkan Sen below Kijun Sen
since the strong bearish crossover,
 Chikou Span is below prices
 Kumo is thickening into the future, providing
strong resistance
 We expect prices to continue its downtrend
GBPUSD
GBPUSD
 We had a strong bullish Tenkan Sen/Kijun Sen
crossover 1 month ago
 Chikou Span had broken upside of the Kumo
 Senkou Span A is above Senkou Span B and the
Kumo is thickening
 Tenkan Sen, Kijun Sen, Senkou Span A and Senkou
Span B are all sloping upwards
 We think it is a good time to accumulate the Sterling
against the Dollar with stop loss at the Kijun Sen
APF Trading is a trading advisory firm offering
clients Managed Forex Accounts and advice on
multi-asset trading strategies, signals, trading
systems, execution services and trading platforms.
The firm also conducts research and technical
analysis with a focus on Ichimoku Kinko Hyo and
DeMark Indicators.