Sheng Siong Group Ltd. (OV8.SI) on SGX – Daily Chart (Sep 2024 – Sep 2025)
1. Market Regime Classification
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Trend: Uptrend since Apr 2025, with a sharp breakout from consolidation. However, currently transitioning into a range-bound consolidation between 2.03 support and 2.23 resistance.
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Current Market Regime: Transitioning from trending → ranging. Volatility contracting, bar overlaps increasing.
2. Market Structure & Order Flow
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Swing Lows (SL): 1.55 → 1.57 → 1.80 → 2.03
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Swing Highs (SH): 1.68 → 1.88 → 2.23
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Break of Structure (BOS): Clear BOS above 1.88 in Jul 2025 → impulsive leg to 2.23.
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Change of Character (CHoCH): Post-August rejection at 2.23, now forming lower highs → signals fading momentum.
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Momentum: Diminishing, as bar ranges contract and price overlaps around 2.05–2.10.
3. Volume–Price Relationship (VPR)
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July Breakout: Wide range + volume surge = institutional buying.
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August Top (2.23): High volume + wick rejection = climactic buying/exhaustion.
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Current (2.06): Volume contracting = possible absorption/accumulation before next leg.
4. Institutional Footprints
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Liquidity Grab: Wick spike beyond 2.23 (stop run above resistance) before sharp reversal.
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Order Block: Last bullish candle before breakout (around 1.88–1.90) is an order block zone. Still valid as demand.
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Fair Value Gaps: Between 1.90–1.95 may act as magnet if weakness continues.
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Accumulation/Distribution: Current range (2.03–2.23) looks like early distribution phase.
5. Bar Pattern Recognition
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2.23 high: Shooting star-type rejection bar, confirmed by volume expansion → institutional selling.
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2.03 low (Aug): Support tested, demand absorbed supply, preventing deeper fall.
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Recent bars (Sep): Small-bodied, tight ranges = indecision/absorption.
6. Multi-Timeframe Confluence
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Weekly: Strong impulse, now pausing near major resistance (2.20–2.25).
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Daily: Sideways range forming base at 2.03.
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Lower TF (4H): Likely micro-range with repeated liquidity sweeps.
7. Psychological & Key Levels
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Round number magnet: 2.00 psychological level.
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Support levels: 2.03 (near-term), 1.90 (order block), 1.80 (structural demand).
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Resistance levels: 2.10 minor, 2.23 major swing high.
8. Risk-Adjusted Setup Mapping
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Bullish scenario: If 2.03 holds and volume increases on breakout >2.10, retest of 2.23 possible.
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Bearish scenario: If 2.03 breaks with volume, correction toward 1.90–1.95 order block.
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RR Considerations: Long from 2.05 → Stop below 2.00 → Target 2.23 = ~1:3 R:R.
9. Forward-Looking Bias
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Market currently coiling inside 2.03–2.23.
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Directional breakout needed for next trend leg:
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Above 2.23 = continuation of institutional trend.
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Below 2.03 = distribution confirmed → correction.
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Trade Summary
Buying Sheng Siong (OV8.SI) if 2.03 holds because institutional absorption zone is intact, with stops at 2.00 targeting 2.23 for ~1:3 risk-reward.
Confidence Rating: 6.5/10
Key Levels to Watch: 2.03 (support), 2.10 (minor resistance), 2.23 (major resistance), 1.90 (order block demand).
✅ Pre-Execution Checklist:
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Confirm breakout with volume expansion
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Place stop below structural level (2.00)
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Scale out partials near 2.10, final target 2.23
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Watch sector rotation in SG consumer staples for relative strength
Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.
Dividend: 3.11
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