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The STI - August Outlook
Historically, the month of August has been bearish for the Straits Times Index ( especially for the first two weeks of August leading to National Day ). This has been the case for 2008, 2009, 2010 and 2011. Unless STI is able to break above 3,039 in the upcoming week, we may see history repeat itself as we approach August and National Day.
Labels: Market Direction
Capitaland
A fresh system buy signal for Capitaland has surfaced, buy above $2.99.
In the chart below :
red candle = buy signal
blue candle = riding the profit
yellow candle = sell signal
green candle = staying out of the counter
Look at the last two buy signals to visualize the profit generated.
Labels: Stock Pick
The Straits Times Index
In the chart below, the downtrend line has been tested numerous times. Although it was violated at point A by a false breakout, the downtrend line remains viable and vital. This line has now been violated again at point B. We need to watch whether it will mimic point A and turn out as a false breakout.
The chart below depicts an uptrend channel within the downtrend line. If the breakout turn out to be valid. We can expect the index to head toward the upper boarder of the channel.
Finally, the daily chart shows a bearish divergence between the RSI and STI price chart. This may signal some impending weakness ahead.
Labels: Market Direction
Keppel T&T Review
Long Term : Bearish ( sideways action struggling to form a base )
Mid Term : Bearish turning bullish
Short Term : Bullish
Labels: Stock Pick
Fraser Comm Trust Review
Fraser Commercial Trust is currently bullish based on the charts below. In addition, there is evidence of presence of large fund.
Labels: Stock Pick
ST Eng Review
ST Eng is currently bullish based on the following charts :
Labels: Stock Pick
The Straits Times Index
The STI reversed from the downtrend on June 4 following a RSI bullish divergence was formed. The index has now risen for 20 days and arrived at the Fibonacci 61.8% between 2,698-3,035. Volume decreased today as prices pushed to new high. We should see a respite to bring prices closer to the moving averages.
Labels: Market Action
