Page | 1 MCI (P) 094/09/2017 Ref. No.: SGMN2018_0153 Singapore Morning Note 13 September 2018 Research Official Website: www.StocksBnB.com MARKET WATCH Singapore Indices Level 1D D 1D % FTSE ST Straits Time 3,124.7 14.7 0.5 FTSE ST Financial 951.4 2.9 0.3 FTSE ST Real Estate 784.2 0.5 0.1 FTSE ST Industrials 708.2 1.6 0.2 FTSE ST Consumer Service 695.9 5.4 0.8 FTSE ST Telecommunicate 776.9 0.4 0.0 FTSE ST Oil & Gas 339.7 8.0 2.4 FTSE ST Consumer Good 406.5 2.9 0.7 FTSE ST Utilities 309.8 5.1 1.7 FTSE ST Healthcare 1,298.7 (5.5) (0.4) FTSE ST Technology 222.6 0.3 0.2 FTSE ST Basic Material 78.6 (1.1) (1.4) FTSE ST Mid-Cap 715.1 3.4 0.5 FTSE ST Catalist 360.8 0.1 0.0 All stocks Up: 154 Unchanged: 331 Down: 116 Total Volume (mn shares) 1,857.7 324.4 21.2 Total Value (S$ mn) 972.4 121.0 14.2 Top gainers (mktcap >S$100m) S$ D % Krisenergy Ltd 0.108 0.012 12.5 Rex Internationa 0.099 0.009 10.0 Mermaid Maritime 0.112 0.010 9.8 Serial System 0.149 0.013 9.6 Place Holdings L 0.026 0.002 8.3 Oue Lippo Health 0.105 0.006 6.1 Top losers (mktcap >S$100m) S$ D % Vallianz Holding 0.008 (0.001) (11.1) Siic Environment 0.290 (0.025) (7.9) Tiong Seng Hlds 0.310 (0.025) (7.5) Oue Comm Reit 0.625 (0.035) (5.3) World Class Glob 0.181 (0.009) (4.7) Geo Energy 0.225 (0.010) (4.3) FSSTI INDEX 3,000 3,100 3,200 3,300 3,400 3,500 3,600 3,700 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 REL. PERFORMANCE BY MARKET CAP 2,500 2,700 2,900 3,100 3,300 3,500 3,700 Sep-17 Dec-17 Mar-18 Jun-18 STI (LargeCap) MidCap Catalist Source: Bloomberg; PSR TECHNICAL PULSE STI – Daily timeframe – Bullish With the current Bullish Engulfing Bar rejection off the 3100 psychological support area, the RSI has also risen back above the 30 oversold region suggests the start of the mean reversion higher. Expect price to rebound higher next if the bullish follow through happens for price to test the 3189 resistance area followed by 3263.. For more information and additional disclosures, refer to the technical pulse section below. BREAKING NEWS Retail sales decreased 2.6% year-on-year in July 2018, due mainly to lower motor vehicle sales. Excluding motor vehicles, retail sales increased marginally by 0.2% year- on-year. Sales of food & beverage services decreased 0.3% year-on-year in July 2018. Sasseur Group, the Sponsor of Sasseur REIT, has signed a Memorandum of Strategic Partnership with Secoo Holdings. Secoo Holdings is Asia’s largest integrated online platform for upscale products and services and one of Sasseur REIT’s strategic cornerstone investors. Sasseur Group and Secoo Holdings will each be tapping on their respective expertise in offline and online retail to develop an integrated omni-channel network targeting the growing luxury consumer market in China. Source: CNBC, Bloomberg, Reuters, Business Times, SingStat, Phillip Securities Research MACRO / CHART OF THE DAY Previous: +0.3% YoY Jun18 Latest: +0.2% YoY Jul18 Singapore retail sales excluding motor vehicles (ex-MV) is turning more sluggish. July retail sales (ex-MV) only rose 0.2% YoY. This is the slowest in 14-months, excluding festive anomalies. On YTD basis, retail sales (ex-MV) is up 1.6%, similar to last year's 1.8% expansion.
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With the current Bullish Engulfing Bar rejection off the 3100 psychological support area, the RSI has also risen back above the 30 oversold region suggests the start of the mean reversion higher.
Expect price to rebound higher next if the bullish follow through happens for price to test the 3189 resistance area followed by 3263..
For more information and additional disclosures, refer to the technical pulse section below.
BREAKING NEWS
Retail sales decreased 2.6% year-on-year in July 2018, due mainly to lower motor vehicle sales. Excluding motor vehicles, retail sales increased marginally by 0.2% year-on-year. Sales of food & beverage services decreased 0.3% year-on-year in July 2018. Sasseur Group, the Sponsor of Sasseur REIT, has signed a Memorandum of Strategic Partnership with Secoo Holdings. Secoo Holdings is Asia’s largest integrated online platform for upscale products and services and one of Sasseur REIT’s strategic cornerstone investors. Sasseur Group and Secoo Holdings will each be tapping on their respective expertise in offline and online retail to develop an integrated omni-channel network targeting the growing luxury consumer market in China. Source: CNBC, Bloomberg, Reuters, Business Times, SingStat, Phillip Securities Research
MACRO / CHART OF THE DAY
Previous: +0.3% YoY Jun18 Latest: +0.2% YoY Jul18
Singapore retail sales excluding motor vehicles (ex-MV) is turning more sluggish. July retail sales (ex-MV) only rose 0.2% YoY. This is the slowest in 14-months, excluding festive anomalies. On YTD basis, retail sales (ex-MV) is up 1.6%, similar to last year's 1.8% expansion.
Technical Long Straits Times Index – Daily timeframe (Update from 6 September 2018)
*Entry Price: 3142 Stop loss : 3020 Take profit : 3263
Current Sentiment: Bullish Support 1: 3100 Resistance 1: 3189 Support 2: 3000 Resistance 2: 3263
The Straits Times Index fell as expected after the last update with an accelerating bearish momentum. Nonetheless, the psychological support area at 3100 area seemed to be halting the selloff currently. Since testing the 3100 psychological support area on 10/09/18, the bulls have managed to keep that level intact. Moreover, the bullish rejection off the 3100 psychological support area on 12/09/18 succeeded in forming a Bullish Engulfing Bar signal some sign of strength.
Keep in mind the recent selling from the past two months have also dragged the Relative Strength Index (RSI) into the oversold condition suggests an imminent mean reversion. The RSI hit a low of 27 on 11/08/19. RSI measures momentum. A reading above 70 represents overbought condition while a reading below 30 represents oversold condition. Thus, with the current Bullish Engulfing Bar rejection off the 3100 psychological support area, the RSI has also risen back above the 30 oversold region suggests the start of the mean reversion higher.
Expect price to rebound higher next if the bullish follow through happens for price to test the 3189 resistance area followed by 3263.
Red line = 20 period moving average, Blue line = 60 period moving average, Green line = 200 period moving average *Entry price is derived from 1 tick above the high of the setup bar Source: Bloomberg, Phillip Securities Research Pte Ltd Jeremy Ng (+65 62121857) [email protected]
Hi-P has been stopped out at 0.960 on 10/09/18 with –9.43% loss, dragging the performance of the “Phillip 20 Portfolio“ down by –0.47% on the equal weighted basis.
The Phillip 20 Portfolio - Our top technical picks Company Name Ticker L Entry Date Entry price Stop Loss Last price Current gain/loss (%)
BREADTALK 5DA Long 2-Nov-17 0.823 0.735 0.965 17.33%
COMFORTDELGRO C52 Long 9-May-18 2.280 1.950 2.280 0.00%
DBS D05 Long 9-May-18 25.560 23.980 24.340 -4.77%
GEO ENERGY RES RE4 Long 17-May-18 0.240 0.205 0.225 -6.25%
GENTING SING G13 Long 9-Apr-18 1.160 0.990 1.040 -10.34%
UOB U11 Long 23-Jul-18 26.670 25.540 25.940 -2.74%
SIA C6L Long 23-Aug-18 9.780 9.390 9.610 -1.74%
SEMBCORP IND U96 Long 8-Aug-18 2.810 2.570 2.940 4.63%
SINGTEL Z74 Long 9-Jul-18 3.270 2.980 3.100 -5.20%
SATS S58 Long 6-Jul-18 5.080 4.810 5.000 -1.57%
SINOSTAR PEC C9Q Long 28-Nov-17 0.194 0.149 0.180 -7.22%
THAIBEV Y92 Long 4-Sep-18 0.655 0.595 0.625 -4.58%
VENTURE V03 Long 18-Jul-18 17.140 15.980 16.860 -1.63%
Monthly Phillip 20 performance update May 17 performance
June 17 performance
July 17 Performance
August 17 Performance
September 17 Performance
October 17 Performance
November 17 Performance
December 17 Performance
January 18 Performance
February 18 Performance
March 18 Performance
April 18 Performance
May 18 Performance
June 18 Performance
July 18 Performance
**Take profit will be updated accordingly in the future technical pulse report
Note: The “Phillip 20 Portfolio” is an actively managed portfolio that utilises technical analysis for selecting stocks. We have limited the amount of stocks to 20 for the portfolio, and each trade is equally weighted at 5% of the initial capital.
Inception date is the start of May 2017 with an initial capital of $100,000.
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