In Ichimoku, a bullish is defined by the following conditions :-
1. Tenkan (Conversion) line cut above Kijun (Base) line
2. Senkou A cloud is above the Senkou B cloud
3. Both Tenkan and Kijun lines are above the Senkou (cloud)
Failing to meet all the above 3 conditions have to be very careful and it may just hit resistance and resume the downtrend.
In GMMA, a bullish is defined by the following conditions :-
1. Short-term GMMA line (red) spreading out, trending up and above the long-term GMMA line (green)
2. Long-term GMMA line (green) spreading out and trending up
Any other cases meaning the up could be risk hitting resistance and down again.
AEM
Rebounded from the low of $0.64 on 13th Aug 2018, up for past 4 days on higher volume.
The Ichimoku condition for bullish is not fulfilled. Tenkan (Conversion) line is turning up but still a fair amount of distance before it can cut up the Kijun (Base) line. Senkou A is below Senkou B, Both Tenkan and Kijun lines still below the cloud. Should the Tenkan line manages to cut up the Kijun lines going forward and that happens when they are still below the cloud is not a bullish sign either. The first resistance will be at the bottom of the cloud which is about $1.08. The short-term GMMA looks cutting up the long-term GMMA but the long-term GMMA lines are not trending up. For the long-term GMMA lines to trend up, it will first have to compress and at the moment there is no indication of that happening. Another not so positive sign, as the price moves up, volume declining creating a divergence.
Hi-P
Hit a low of $0.96 on 13th Aug 2018 and since then rebounded. Unlike AEM it was not up for the past 4 consecutive days and volume indication was weaker than AEM.
The Ichimoku bullish condition is not fulfilled. In fact, its Ichimoku signals are relatively weaker than AEM at the moment. No sign of Tenkan line cutting up the Kijun line either. The only positive over AEM is the Tenkan and Kijun lines and the stock price are nearer to the cloud than AEM. Hence, should both Tenkan and Kijun lines turning up, the possibility of a crossover could happen inside the cloud or above the cloud. The first resistance is the bottom of the cloud which is about $1.24. Like AEM, the GMMA signals are not bullish either.
Sunningdale Tech
Hit a low of $1.25 on 6th Aug 2018 and since then did a "strong" rebound.
Sunningdale Tech has a more positive outlook than AEM and Hi-P at the moment. Though not all the Ichimoku bullish conditions are met but most of the conditions are there. The only lacking is for the Tenkan to stay above the Kijun line. The cut up actually happened back in Jul 2018. The GMMA signals also showed more positive outlook than both AEM and Hi-P. The short-term GMMA has cut up the long-term GMMA and trying to fan out. The long-term GMMA is compressing and should be a positive sign.
UMS
For past days was supported at $0.74, though rebounded but it appears to lack the strength going forward
Compared to AEM, Hi-P and Sunningdale, UMS is the weakest. The Ichimoku signals are weaker than those 3 too. Tenkan line has cut down Kijun line on 6th Aug 2018, a bearish sign and no indication that going forward it will cut up. The cloud in which Senkou A is below Senkou B is a relatively thicker and no sign of thinning. On 15th Aug 2018, the price tried out move into the cloud area but was resisted and fell back, another negative sign. The long-term GMMA line still fan out in downtrend. The short-term GMMA lines at the moment are compressed but were below the long-term GMMA line and show no sign of cutting up the long-term GMMA line.
Valuetronics
Hit $0.62 on 6th Aug 2018 and staged a very strong rebound after it announced its 1Q18 earning.
By all means Valuetronics is the strongest in term of bullishness so far. The Ichimoku conditions for bullish is also better than the rest, almost there. Tenkan line has cut up Kijun back in Jul 2018 and managed to stay above that throughout. Now both these lines are trying to move above the cloud and if that happens, the Ichimoku bullish conditions will be fulfilled. The GMMA signals also showed more positive sign than the rest. Short-term GMMA lines cut up long-term GMMA lines and fanning out. Long-term GMMA is compressing which should be trending up by the look of it.
Venture
One of the index stock but unfortunately it is not the strongest at the moment. Hit a low of $16.07 on 16th Jul 2018 but it appears to be going nowhere at the moment.
It does have a more positive outlook than UMS but still lag behind Sunningdale and Valuetronics in term of bullishness. The only positive sign for the Ichimoku signals is that the Tenkan line has cut up Kijun line around end Jul 2018 and managed to stay above it. They together with the stock price are trying to move into the cloud area. Short-term GMMA line is being compressed at the moment but shows no sign of cutting the long-term GMMA line and in fact still lying below the long-term GMMA line. Long-term GMMA line still fan out in downtrend direction. It can become more bullish if the Tenkan & Kijun lines and the stock price move into the cloud area with the short-term GMMA line cutting up the long-term GMMA line coupling with a compression in the long-term GMMA lines.
Of the 6, Valuetronics is the strongest followed by Sunningdale Tech in term of bullishness. The weakest UMS. The rest I should say is a 50-50 case that they will turn bullish.
