Old Chang Kee - 11 Jun 2026

Old Chang Kee Ltd. — SGX, Daily Chart

Last price: S$1.15

Market regime: Range-to-transition

The broader advance from roughly S$0.90 to S$1.20 has evolved into a prolonged range. April’s breakout to S$1.30 failed, returning price beneath S$1.20. The present structure is therefore neutral on the larger range and mildly bearish on the short-term structure.

Price is now compressed around the important S$1.14–1.15 demand zone.

Highest-conviction observations

1. Failed bullish break of structure
   • Price broke above the established S$1.19–1.20 ceiling and accelerated to S$1.30.
   • It could not hold above S$1.20 and quickly returned inside the previous range.
   • This resembles a Wyckoff-style upthrust or liquidity grab, trapping late breakout buyers.
2. Short-term bearish change of character
   • Following the S$1.30 peak, price formed successive lower highs near S$1.25, S$1.23, S$1.21 and S$1.19.
   • The loss of S$1.20 marked a bearish CHoCH on the daily microstructure.
   • Sellers have controlled rallies, although they have not yet broken S$1.14 decisively.
3. Possible absorption around S$1.15
   • Numerous recent candles have small ranges and overlapping closes around S$1.15.
   • Price has repeatedly tested this level without producing substantial downside progress.
   • This suggests possible passive demand or seller absorption, but it remains unconfirmed until price reclaims S$1.18–1.20.
4. Volume confirms the April event, not the current direction
   • Volume expanded around the breakout and reversal sequence, indicating genuine institutional activity.
   • Subsequent declining volume and narrowing bars indicate reduced participation and balance.
   • Current low-volume consolidation is more consistent with compression than an established new trend.
5. The chart remains vulnerable to another retail trap
   • Buying inside the range before S$1.20 is reclaimed risks another rejection.
   • Shorting directly into S$1.14–1.15 support risks being caught in a shakeout.
   • Confirmation outside the present compression offers better structural clarity.

Structure map

Major swing structure

• Major swing low: S$0.90–0.92
• Intermediate higher lows: S$0.94, S$0.96, S$1.05 and S$1.08
• Former range resistance: S$1.18–1.20
• Climactic swing high: S$1.30
• Current structural pivot: S$1.14–1.15

The longer-term structure remains constructive while above S$1.08–1.11, but the April–June sequence is corrective.

Institutional supply zones

• S$1.18–1.20: Immediate supply and repeated rejection zone
• S$1.23–1.25: Breakdown origin and trapped-buyer area
• S$1.28–1.30: Climactic supply and major liquidity high

Institutional demand zones

• S$1.14–1.15: Immediate demand and current range floor
• S$1.11–1.12: Secondary structural support
• S$1.08: Major range demand
• S$1.04–1.05: Deeper historical demand

Bar-by-bar interpretation of the recent phase

• The April push through S$1.20 showed displacement and expanding participation.
• The upper rejection near S$1.30 demonstrated supply entering at the new high.
• The rapid retracement below S$1.20 invalidated the breakout.
• Subsequent candles formed lower highs with increasingly overlapping ranges.
• Recent bars around S$1.15 show reduced directional result relative to repeated testing.
• The market is currently coiling between S$1.14 support and S$1.19 resistance.

This compression should eventually produce an expansion, but the chart does not yet establish which side will prevail.

Forward scenarios

Bullish confirmation scenario

Required evidence:

• Daily close above S$1.19–1.20
• Noticeable volume expansion
• Follow-through or successful retest of S$1.18–1.20 as support

Potential upside levels:

• First objective: S$1.23
• Second objective: S$1.25
• Major objective: S$1.30

A move above S$1.20 without volume or follow-through would remain vulnerable to another false breakout.

Bearish confirmation scenario

Required evidence:

• Daily close below S$1.14
• Wider bearish candle with expanding volume
• Failed recovery back above S$1.15

Potential downside levels:

• First objective: S$1.11–1.12
• Second objective: S$1.08
• Extended objective: S$1.04–1.05

A brief intraday break below S$1.14 followed by a close above S$1.15 would instead qualify as a potential spring or liquidity sweep.

Risk assessment

At S$1.15, the stock is near support but lacks a confirmed reversal candle. Entering here would rely on anticipation rather than confirmation.

The cleaner risk-adjusted configuration is a confirmed breakout above S$1.20 followed by a controlled retest:

• Illustrative trigger: S$1.20
• Structural invalidation: S$1.16
• Major target: S$1.30
• Approximate risk-reward: 2.5:1

Confidence and execution checklist

Directional confidence: 6/10
Regime confidence: 8/10

Key levels: S$1.14, S$1.15, S$1.19, S$1.20, S$1.23, S$1.25 and S$1.30.

Before execution, confirm the daily close, volume expansion, retest behavior, structural stop placement, position size and minimum 1:2 risk-reward.

Buying Old Chang Kee Ltd. only after a confirmed break and hold above S$1.20 because this would invalidate the current lower-high sequence, with stops at S$1.16 targeting S$1.30 for approximately 2.5:1 risk-reward; confidence 6/10.

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:   1.74%

Old Chang Kee - 02 Jan 2026

• Stock: Old Chang Kee Ltd.

• Ticker: 5ML (SGX)

• Timeframe: Daily (1D)

• Date Range Observed: ~Apr 2025 – 02 Jan 2026

• Approx. Bars: ~190 daily bars

• Last Traded Price: ~SGD 1.13

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🧭 Current Market Regime (Lead Assessment)

Transitioning from Uptrend → Range / Early Distribution

• Prior clean bullish trend (Apr–Aug)

• Followed by failed continuation, overlapping bars, shrinking ranges

• Market now in range-bound regime with distribution characteristics

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🔑 Highest-Conviction Observations (3–5 Key Points)

1. Major Uptrend Completed with Climactic Volume (Aug)

2. Clear Change of Character (CHoCH) after 1.18–1.20 rejection

3. Repeated Absorption Around 1.11–1.13

4. Supply Overhang Visible Near 1.18–1.20

5. Volume Decay Confirms Lack of Aggressive Demand

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1. Market Structure & Order Flow Analysis

Primary Structure

• Apr → Aug:

  • Series of Higher Highs (HH) and Higher Lows (HL)

  • Clean impulse legs with shallow pullbacks (healthy trend)

Structural Inflection

• Aug spike to ~1.18

  • Wide-range up bar + extreme volume

  • Immediate sharp rejection to ~1.05

  • → Climactic buying / exhaustion

CHoCH Identification

• Failure to reclaim 1.16–1.18

• Subsequent highs become Lower Highs

• Lows stop making HH-confirming HLs

• → Bullish structure broken

Current Structure

• Range: ~1.11 support ↔ 1.18 resistance

• Price oscillates with overlapping bodies

• Momentum decay evident (smaller candles, compressed ranges)

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2. Advanced Volume–Price Relationship (VPR)

Key Volume Events

• Aug:

  • High volume + wide range = professional unloading

• Post-Aug:

  • Volume collapses → no follow-through buying

• Repeated tests of 1.11–1.13:

  • Moderate volume, small bodies

  • → Absorption (strong hands supporting, not chasing)

Effort vs Result

• Recent higher volume bars fail to move price

• Strong signal of supply meeting demand

• No evidence of fresh institutional accumulation yet

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3. Institutional Footprints & Smart Money Concepts

Liquidity Events

• False breakout above ~1.18–1.20

  • Triggers retail breakout entries

  • Immediately reversed → classic buy-side liquidity grab

Order Blocks

• Bearish order block near 1.18–1.20

  • Last up bars before sharp selloff

  • Continues to cap price on retests

Fair Value Gaps (FVG)

• Inefficient price area between ~1.14–1.16

• Price keeps rotating through → no displacement yet

Wyckoff Read

• Apr–Jul: Markup

• Aug: Buying Climax (BC)

• Sep–Dec: Distribution / Range

• No spring or SOS confirmed yet

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4. Bar Pattern Recognition

Reversal / Exhaustion

• Aug top:

  • Wide-range bullish bar followed by strong bearish engulf

  • High volume confirms exhaustion

Indecision

• Multiple spinning tops & small-body bars near 1.13–1.15

• Indicates balance, not trend

Continuation Failure

• No flag or pennant with volume expansion

• All pullbacks lack impulsive resolution

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5. Multi-Timeframe Confluence

• Daily: Range / distribution

• Weekly (implied):

  • Upper wicks near 1.18–1.20

  • Weekly closes failing to advance

• Bias aligns: Neutral to mildly bearish unless range breaks

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6. Psychological & Reference Levels

Level	Significance
1.20	Major psychological + distribution high
1.18	Supply zone / failed breakout
1.15	Mid-range equilibrium
1.13–1.11	Repeated defended support
1.05	Breakdown trigger / prior reaction low

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7. Risk-Adjusted Setup Identification (Technical Only)

Long Scenario (Mean Reversion, NOT Trend)

• Entry Zone: 1.11–1.13 (only with volume contraction)

• Invalidation: Daily close < 1.10

• Target: 1.16 → 1.18

• R:R: ~1:2 (range trade)

Short / Defensive Scenario

• Rejection Zone: 1.18–1.20

• Signal: Upper wick + volume expansion

• Target: 1.13 → 1.11

• Bias: Higher probability than breakout longs

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8. Market Regime Classification (Final)

• ❌ Trending

• ✅ Ranging / Distribution

• ⚠️ Transition risk elevated

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9. Institutional Supply–Demand Summary

• Demand: Passive, absorptive, defensive

• Supply: Active near highs, dominant

• Effort > Result on upside = bearish undertone

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10. Comprehensive Context (Technical Only)

• No evidence of:

  • Accumulation spring

  • Displacement breakout

  • Volume-led expansion

• Market is waiting for resolution, not positioning aggressively

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🎯 Forward-Looking Bias & Key Levels

Bias:
➡️ Neutral to bearish until proven otherwise

Bullish Only If:

• Clean daily close above 1.18

• Volume expansion + follow-through

Bearish Acceleration If:

• Daily close below 1.11

• Opens path to 1.05

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Bottom Line

This is not a momentum stock right now. It is a range-bound, post-distribution structure where patience and level-based execution matter far more than prediction.

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:   1.77%

Old Chang Kee - 01 Aug 25

• Stock Name: Old Chang Kee

• Ticker: SGX: 5ML

• Timeframe: Daily

• Date Range Analyzed: Oct 2024 – 01 Aug 2025

• Bars Analyzed: ~210 (10 months)

• Last Traded Price: 1.07 SGD

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🔄 1. MARKET STRUCTURE & ORDER FLOW ANALYSIS

• Trend Structure:

  • Macro structure: Transitioned from sideways to uptrend beginning April 2025.

  • Key Swing Lows (SL): 0.77 (Dec), 0.78 (Mar), 0.94 (Jul).

  • Key Swing Highs (SH): 0.83 (Nov), 0.97 (May), 1.17 (Jul).

  • Break of Structure (BOS): Occurred above 0.97 with volume expansion in July — strong bullish confirmation.

  • Current Phase: Minor pullback after parabolic leg up — early transition signs or healthy correction.

• Trend Momentum:

  • July surge had large candles with higher highs and minimal retracement — clean displacement.

  • Last three bars: momentum decay, with overlapping bars and sharp retrace from 1.17 to 1.07 (approx. -8.5%).

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📈 2. ADVANCED VOLUME-PRICE RELATIONSHIP (VPR)

• Volume Signatures:

  • Climactic Volume (Jul 30–Aug 1): Wide range down bar on Aug 1 with the highest volume on chart → potential exhaustion or institutional exit.

  • Low Volume + Uptrend (May–Jun): Sustained trend without strong buying volume → passive absorption phase.

• Volume Clusters:

  • May 2025 breakout above 0.94 had moderate volume and follow-through → legitimate breakout.

  • Massive volume surge last 3 sessions with downward bar suggests institutional unloading or retail panic.

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🧠 3. INSTITUTIONAL FOOTPRINTS

• Order Blocks & Liquidity Grabs:

  • Final bullish candle before July drop likely marks an order block zone near 1.15–1.17.

  • Price pierced into psychological 1.20 area but rejected violently → liquidity grab followed by reversal.

• Displacement & FVG:

  • Strong displacement move from 1.00 → 1.17 shows institutional power.

  • FVG formed between 1.04–1.10; currently price is retracing into this inefficiency.

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🔄 4. BAR PATTERN RECOGNITION

• Reversal Bars:

  • Aug 1: Large bearish engulfing with highest volume in months → institutional profit-taking or panic dump.

  • Jul 30: Shooting star rejection bar with upper wick — signals buyer exhaustion.

• Continuation Patterns:

  • Bullish flag breakout (late June to mid-July) led to recent upthrust.

  • Measured move from 0.94–1.05 = 0.11 → projected target of ~1.17 (met before rejection).

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🧭 5. MULTI-TIMEFRAME CONFLUENCE

• Weekly Chart Bias (not shown): Likely bullish but extended; price moving into potential supply zone.

• Daily & Weekly Compression Zone: 1.05–1.10 acts as multi-timeframe decision cluster.

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💰 6. PSYCHOLOGICAL LEVELS & STRUCTURAL ZONES

• Key Psychological Levels:

  • 1.00 (round number + prior resistance now support)

  • 1.10–1.20: Institutional trap zone

  • 0.94: Former resistance, now potential support if retracement deepens

• ATR Consideration:

  • Recent bars exceed normal range → volatility expansion; not sustainable long-term without cooling off.

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📉 7. MARKET REGIME CLASSIFICATION

• Current Regime: Transitioning from strong uptrend to correction/possible distribution

  • High volatility, rejection wicks, wide-body reversals = classic signs of topping action.

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⚠️ 8. RISK-ADJUSTED SETUP

• Bias: Short-term bearish retracement toward 1.00–0.98 before potential stabilization.

• Stop Zone: Above 1.15 (structure high)

• Target Zone: 0.98 (previous breakout base + FVG)

• R/R Ratio: ~1:2.5 for short-term swing if executed from 1.07

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🔚 TRADE SUMMARY SENTENCE

Selling SGX:5ML because of climactic volume and bearish engulfing bar post-parabolic extension with stops at 1.15 targeting 0.98 for 1:2.5 risk-reward.
Confidence Rating: 8/10
Key Levels to Watch: 1.15 (resistance), 1.00 (support), 0.94 (critical demand zone)

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📋 Execution Checklist Before Entry:

• Confirm trend break on lower timeframes (e.g., 1H or 4H structure BOS)

• Watch volume behavior near 1.00 — absorption vs. rejection

• Ensure no upcoming catalysts (e.g., earnings) within 3–5 days

• Use partial profit strategy into 1.00 zone

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:  1.87%

Old Chang Kee - 28 Feb 2025

Stock Analysis for Old Chang Kee (SGX) – 1D Timeframe

1. Trend Analysis:

• Overall Trend: The stock is in an uptrend, characterized by a sequence of higher highs (HH) and higher lows (HL).
• Recent Highs & Lows:
  • Higher highs: 0.785 → 0.825 (recent breakout attempt)
  • Higher lows: 0.715 → 0.765 → 0.785
• Trend Strength:
  • There is steady price movement upwards with increasing momentum.
  • The trend is not weakening yet, but some bars show overlapping candles, which may indicate slight consolidation or indecision.

2. Key Price Action Signals:

• Strong Trend Bars:
  • A few large bullish bars have broken through previous resistance levels, indicating buyer strength.
  • Some bars have longer wicks, suggesting profit-taking or selling pressure at higher prices.
• Reversal Bars:
  • A slight retracement occurred near 0.785 but was followed by strong demand, keeping the uptrend intact.
  • No clear bearish engulfing candles or strong pin bars signaling a major reversal.
• Inside Bars & Doji Candles:
  • Some inside bars suggest consolidation, especially near 0.785–0.810.
  • A doji near recent resistance (0.825) could indicate hesitation before a potential breakout or reversal.

3. Support & Resistance Levels:

• Major Support Levels:
  • 0.765 (previous resistance turned support)
  • 0.715 (recent swing low)
• Major Resistance Levels:
  • 0.825 (key resistance level where price is struggling to break above)
  • A confirmed breakout above 0.825 could open room for further upside potential.

4. Breakout & Pullback Analysis:

• Breakout Strength:
  • The breakout attempt towards 0.825 shows strong buying pressure.
  • However, rejection or hesitation at this level may indicate resistance selling.
• Pullback Structure:
  • Recent pullbacks have been mild and well-supported, suggesting healthy trend continuation.
  • No significant bearish signals have been observed, only normal retracements within the uptrend.

5. Market Context & Trading Bias:

• Current Market Phase: Trending Up with minor consolidations.
• Potential Trend Change?
  • No major bearish signals yet, but price struggling at 0.825 could mean short-term consolidation before a decisive move.
• Trader Sentiment:
  • Bullish bias but cautious, as profit-taking near resistance is evident.
  • If buyers push above 0.825, expect further gains.
  • If price rejects strongly from 0.825, expect a retracement to 0.765 or lower.

Conclusion:

• The uptrend remains intact with resistance at 0.825.
• Breakout potential: Watch for a strong close above 0.825 for confirmation.
• Risk: A failure to break higher could cause a pullback towards 0.765 before resuming the uptrend.

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:  2.50%

Old Chang Kee - 05 Dec 2024

What does this stock chart says?

Yet to break lower support.  Price look like taking a pause.

P/E Ratio  8.33

Dividend Yield   2.53%

Daily Chart

Old Chang Kee - 09 Nov 2024

What does this stock chart says?

Technically, price at top looking weak.

P/E Ratio   9.60

Dividend Yield   2.61%

Old Chang Kee - 08 Feb 2021

Old Chang Kee overall trend down.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Old Chang Kee - 12 Jan 2021

Old Chang Kee chart show that its too old to run up and still in down channel.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.

Old Chang Kee - Stable for Now

Old Chang Kee price looks table for now.  This is a slowing moving stock.

Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.

Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.