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SIA

Dear Sporeguy

Candlestick charting is about identifying the patterns of the candle to interpret. Each type of candle has a unique name. The length and color of the body depends on the open/close price . The length of candle wick denotes the high/low price.

Briefly, a long white candle means the open-low and close-high with considerably high price difference bet open and close. A long black candle is the reverse of white i.e open-high, close-low. In sharejunction chart, the candlesticks are green and red. So need to get used to the color.

There are many different patterns such as doji, marubozu,hoshi,karakasa,... Well, I'm still learning and trying to remember the names. 

If you are interested, there is a seminar conducted by Robert Tay. Look out for the ad in the newspaper.  I've attended his course. He's great!

 

Can anyone highlight how to use candlestick. Thanks in advance.

 

no problem! I don't use candlesticks but its always a good sign when one TA indicator confirms the readings in other indicators. This increases the probability that the reading is on the right track.

 

Thanks, singaporegal for confirming what I felt.From candlestick saw that there is trend reversal. But not sure if it will continue. Must wait till next week.  Anyway, it already went up above my target price.

 

From the TA indicators, it looks like SIA may have bottomed out. I can see a trend reversal forming. Bollinger Bands are being tightly squeezed and the RSI seems to be uptrending slightly.

To be safe, wait till next week before making a decision. I think the upside to the STI is way too much today. Come monday, there will be a small correction.

 

Can anyone comment on SIA. At 12.80 still a good buy? Was waiting for price to come down below 12 last couple of days. But looks like today shoot up.

Or shall I wait till Monday?