Article by Andy Yew: www.andy-yew.com
1) Is it downtrend already? For this question I will say not yet, trend
cannot be judge by one day, today is just the first day of reversal,
hence we need more time to find out whether the trend has changed. Dont
worry about no stock to short, if market were to go lower we will have
more opportunity.
2) Is there anything to short? Yes, i think now probably we should look
for some stock which is at their resistance and turning down. We would
like to catch the pivot where it just started to turn down.
Olam closed $1.835 today after hitting the resistance, if market were to go down, now would be a good time to short it as it is near the support.Stoploss can be placed at $1.95. Mid term trade. Initial target $1.50 Enter only if it break below previous day low.
STXOSV closed $1.53 today, similar chart as olam just that Stxosv is above 200ma and Olam is way below the 200ma. Stoploss can be placed at $1.59. Mid term trade. Initial target $1.30 Enter only if it break below previous day low.
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Singapore Stock FREE Seminar: Technical Analysis Knowhow
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The market outlook Q3 2012
2.
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Cost: FREE (Limited Seats)
Venue: 141 Cecil Street, Tung Ann Association Building #07-02 S(069541) Tanjong Pagar MRT Exit G, walk straight 80m, opposite the traffic light
Cost: FREE (Limited Seats)
To register pls click here
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