We had an eventful start to the week, with the focus on the French Elections.

Up this week and next week, we also have interest rate decisions from ECB and the FED.

This week we have a familiar name pop up on the scans!

If you would like to find out more about the TradersGPS system and how it can help you,

Click here!

More on it later, first up is the STI.

STI

The STI’s candles have turned red, however, the long term uptrend is still intact.

This looks to be just a normal retracement so don’t be too bearish.

STI is broadly still bullish.

Hi-P

We’re still moving, be patient and follow system.

Hi-P is moving, be patient and follow system

GLP

It’s still waiting the board’s decision.

The Motley Fool actually recently put out a short article about GLP.

You can read the article here.

GLP still waiting on the board’s decision

OCBC

The candles have turned red again, although it is creeping higher.

Be patient and follow system.

OCBC candles turned red again, follow system.

M1

Recently paid out a dividend, so this is the dividend adjusted chart.

Although candles did turn red for a bit, but it never triggered us out.

There’s even a 2nd buy signal, but at a very similar price to the 1st signal’s price.

M1 recently paid out dividend

TSM

This is admittedly a trickier trade due to the recent volatility in the US markets.

We trade the odds, and it’s fine to exit or lighten up when you think the odds have tipped out of your favour.

Price bounced off the $31.50 level which you can see from the charts, is a level of significance, so some traders were waiting to see if this level would hold price before deciding to cut or not.

This is also a clear example of knowing how to read charts proficiently.

But know that this may be only 1 trades out of 10, where your chart reading skills will make such a large difference between staying in or getting out of a trade.

Don’t worry, you will learn how to apply your knowledge and tools as we go along.

TSM is a tricky trade.

ComfortDelGro

ComfortDelGro is a new pick from the scanners over the weekend.

In case you didn’t know, these are the guys behind our blue comfort taxis.

Not the typical setup.

This is a high dividend counter, so the candles tend to be overlapping, and as students know, we usually don’t trade such counters.

So the interpretation of TGPS on these counters will be slightly different.

Graduates can ask on the Facebook group if you would like clarification.

Nevertheless, there’s a setup on this counter, it has formed a base since November and it just broke above the resistance of about $2.60

Note that if you observe the industry landscape, Uber and similar apps have been disrupting the taxi services.

ComfortDelGro breaking resistance

Good trading folks!

The post New pick for 24th April: ComfortDelGro! appeared first on The Systematic Trader | Trading Courses | Collin Seow.