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Sunday, 1 June 2014

Keppel Land: 1 June 2014, Sunday, 6.30am Singapore Time

Keppel Land: 1 June 2014, Sunday, 6.30am Singapore Time
Chart courtesy of Chartnexus.com

+ $3.61-$3.66 resistance is the launch of the Bear Market for Keppel Land.
+ Major Wave is a downwave (refer above).
+ Big Consolidated Wave is part of a Big Major Selling Wave (refer above).
+ Small Counter-Trend wave above (Green triple bottom) is to throw confusion and add noise to the market.
+ The Green Triple Bottom is, as the structure shows, merely small rebounding escape wave.
+ The Green Triple Bottom small wave has reached price satisfaction and has ended its rebound.
+ In essence, the escape wave has ended.
+ Major wave (down-move) is ready to resume in June, July and August 2014.
+ Major wave will break down $3.00 psychological support and $2.95 technical support respectively since major wave is the main trend large wave.
+ Property stocks all across the board, such as that of Keppel Land here, will create new multi-year lows.

Donovan Norfolk Ang Technical Rating:
Bearish-biased.
Exit and Get Out of stocks & Equities.
Short/Sell off on opportunistic rebounds.
All property stocks bearish


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