F&N, NOL, SembCorp
STI rose by 18.35 points today at thin volume. On the Point and Figure chart, STI has once again faced resistance from the slanting thin black line ( Bearish Resistance Line ).
Looking at the STI chart, we can see that the columns of Xs are longer then the columns of Os. This is a sign of strength in Point and Figure chart. However, Dow is currently in Parabolic SAR sell phase so this may impact the performance of STI ( this is the only reason I am slightly bearish bais ).
Looking at the STI chart, we can see that the columns of Xs are longer then the columns of Os. This is a sign of strength in Point and Figure chart. However, Dow is currently in Parabolic SAR sell phase so this may impact the performance of STI ( this is the only reason I am slightly bearish bais ).
F&N -
Prices have moved too far from the 20SMA. Buy on dip at around $4.95 ~ $5.00.
NOL -
Buy signal from my trading system. ( YZJ also has buy signal )
SembCorp -
Managed to break $4.10, no buy signal yet but worth watching....
Labels: Market Direction, Stock Pick
posted by Market Wizards @ June 28, 2010
Comments: 0
