STI: There was good showing of volume, which was a sign of investors coming into the market. The STI achieved its near term target and broke the resistance at 1907. Key indicators shows signs of bullishness. However, the STI has hit the upper bollinger band, possible retracement could be encountered in the next few days. I'll be watching to see if support at 1907 is tenable.
I'll not long on any counters as many of this has hit the upper bollinger band. Possible SHORT is DBS. Indicators showing that it is entering into overbought region. Recommended entry at $9.80 - $10.00
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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