STI: STI has been uptrending with higher-high and higher low since 24 Nov 08. Indicators show signs of bullishness, possibly with a mini rally towards 1907 in the next 1 - 2 weeks. However, there will be speed bumps ahead. Possible near term corrections could be encountered at 1860 (which is the upper bollinger band), but unlikely to post a strong resistance if the current trend in the world market persists. Quarterly earnings results are around the corner. Figures are likely to disappoint. Will this put a damper to the bullishness?
My Stock Pick:
LONG on SIA Engineering & Sino-Environment
SIA Eng broke 20MA resistance at $2.05 on Fri. Volume may not be fantastic, however, key indicators point towards an uptrend.
Entry Price: $2.05-2.08 Profit Target: $2.18; Cut Loss: $2.00
Sino-Env broke 20MA at $0.62 on Fri with reasonably high volume. Kdy indicators show uptrend is intact.
Entry Price: $0.63 Profit Target: $0.735; Cut Loss: $0.57
WATCHLIST:
LONGS:
Jardine C&C - Stochatic in oversold region & bullish crossover, ADX turning +ve, Green MacD histogram
Long Trigger: Price breaks 20MA & 50MA resistance at $9.93
SHORTS:
UOL - Stochastic overbought, hit upper bollinger band.
Short Trigger: Stochastic/MacD bearish crossover; Candlestick bearish reversal
STARHUB - Stochastic advancing to overbought region, ADX in -ve territory, Red MacD histogram
Short Trigger: Stochastic/MacD bearish crossover
Disclaimer: My assessment of STI is for fun reading only. It is not an inducement to buy or sell nor an investment advice. By reading this blog, you have agreed that I shall not be responsible for any profits or losses based on the information provided.
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