Low Risk Buying Opportunity
Intraday Update ( 2:00pm )
The STI hits an intraday low of 2,693, close enough to the trendline violation target of 2,690. Stochastic is in oversold region. Although we cannot rule out downside risk due to influence from other markets, the risk/reward ratio justify some trades which are low risk at this level. Stop loss at 2,670. In the event if 2,670 is breached, the likelihood is that the index will revisit 2,520.
Genting ( $ 1.51 )
Stochastic has reached oversold, this counter presents us with low risk opportunity for accumulation . Stop loss < $1.41.
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Labels: Stock Pick
posted by Market Wizards @ November 21, 2011
Comments: 0
