Friday, November 22, 2013

Fast Fact on STI, Stock near Support?

Fast Fact on STI
  • Thursday Morning STI had a sharp down by about -25point, later in the day it pull back to -11.85point, closed at 3172
  • Finally we see some excitement, activities are back. We shall see stock giving us the direction very soon.
  • Mid term - We are in a range bound market, Sideway. Until we see a break below the support 3163 or break above resistance 3235.
  • Currently STI is below 10days moving average, this to me is Downside bias.Unless price break above 10SMA, then i will be bullish
  • Current strategy is Long Strong Counter, Short Weak counter.
  • Commodities still strong, Indoagri, GoldenAgri, Wilmar, FirstRes, NOBLE GRP
  • Property still Weak, Blue Chip dividend stock weak.

 Beside commodities below are some stock that is near support level, if market is good this 2 might be moving
Osim, previously broken 52week high, now pull back near support level. Support at $2.11

F&N, previously uptrending, now going narrow Range, support at $5.70

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