Technical Analysis: The Phillip 20 – July Monthly Review August 2, 2017

  • Take Profit: SingMedical, China Aviation and China Sunsine
  • Stop Loss: United Engineers and Singapore O&G
  • Total gain up to the month of July is 4.3% with a realised gain of 2.74% in July
  • General momentum within the “Phillip 20 Portfolio“ seems to be waning off for now

The Straits Times Index (STI) rose 3.2% for the month of July and lifted the broader market up along with it. As a result, multiple positions within the “Phillip 20 Portfolio’ were closed and opened in July and the realised profit for the month of July is 2.74%.

The STI finally broke out of the 10 weeks range in July shown by the 14 July bullish break above the 3275 range high where the STI resumed moving back into the uptrend. The current sentiment suggests further upside for the STI with a target of 3383 resistance area next.The Straits Times Index (STI) rose 3.2% for the month of July and lifted the broader market up along with it. As a result, multiple positions within the “Phillip 20 Portfolio’ were closed and opened in July and the realised profit for the month of July is 2.74%.

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Losers

There were two realised losers for July. United Engineers was stopped out at 2.610, resulting in -9.06% loss while Singapore O&G was stopped out at 0.600 with -9.7% loss.

Winners

In total, there were three positions that we decided to take profit in July due to the recent bearish price action. Namely, SingMedical with +55% gain, China Aviation with +9.87% and China Sunsine with +8.7% gain. The above counters are currently entering into a period of correction, and we will continue to monitor them closely for possible re-entry points to get back into the uptrend.

New Entries

With the help of the rising STI, livelier price action within the broader market allowed us to enter into the following eight counters:

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Watchlist

After a major reshuffling of the portfolio, there are currently 15 stocks within the “Phillip 20 Portfolio.” The following is the revised watch list that we are closely monitoring:

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About the author

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Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd

Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.

He is also a regular columnist on The Business Times - every Monday ChartPoint column.

He graduated with a Bachelor of Science in Banking and Finance from University of London.

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