STI - Quick Update from Bangkok
STI hits a low of 2,988 today before closing slightly above 3,000. 2,988 was closed enough to be considered as the Point and Figure target at 2,975 being met, I guessed. Apparently, 3,000 should provide a good support for the time being based on how the bull was fighting back today at the backdrop of high volume. RSI is extremely oversold couple with a hammer candlestick ( not quite a hammer but well, close enough ). I suspect we are heading for a rebound ! Thereafter, we will need to reassess on whether it will return to retest 3,000.
IndoAgri was the most notable stock today that hit a low of 2.2 but closed 1 cent higher at 2.31. If I were to be in town, I would have caught it at 2.25.
--- MarketWizards posted from Bangkok
IndoAgri was the most notable stock today that hit a low of 2.2 but closed 1 cent higher at 2.31. If I were to be in town, I would have caught it at 2.25.
--- MarketWizards posted from Bangkok
Labels: Market Direction
posted by Market Wizards @ February 23, 2011
Comments: 0
