Thursday, March 10, 2011

STI outlook

STI -10 to closed at 3092, immediate resistant will be at 3120 which is the 50% retracement level of the index’s 315pt correction during the Jan-Feb period and support will be at 3060.

Today pullback is normal so that it will give chance for those who missed out to buy again. So long STI stays above 200MA, we expect more upside for STI. If STI breaking above 3120, we shall see the index find it resistant at 3160, and with current market sentiment we believe it will reach 3220.

Sembmar, Semb Corp, Kep Corp, STI etf are still in play, take opportunity to buy on dips while STI is pulled back.

Long term: can look at UOB, Kep Corp,

Short term: can consider UMS,Brightwor,Osim only buy if price rise above previous day high!