Hi Everyone,
Please be informed that we will not be doing any trades for today. We will only keep in view of the 3 stocks that we mentioned in yesterday’s Summary Section. Should we have any setup with respect to the 3 stocks, we will update the blog accordingly.
Have a wonderful Friday !!
Just some side notes:
SGX had raised from a low of 6.86 to the current price of 7.32, with a total increase of 0.46 in 3 days. Low chance that this stock will ever fall back to 6.86. Currently we are looking at 7.40 price level. However, the moving averages of this stock are still pointing down; yet to cross and turn up. So during this transition period, this stock can be very choppy. Advise to adopt hit and run strategy or 1-1 ratio rules for profit taking. Remember to enter with small risk per trade for this counter.
SGX Daily Chart on 17/07/2009
UOB tested 15.70 but failed to hold on and close at 15.12 yesterday. We don’t expect any immediate action for the stock to string back to 15.70. Time will be needed for this to take place.
UOB Daily Chart on 17/07/2009
In Summary,
STI closed in green today. there might be more action going on for the next coming week. Generally, we are upward biased. There should not be any shorting opportunity. Till then, we shall wait patiently for the big action to come.
Venture did a pause today. The trading volume is low and close near high. This is a positive sign. Just be careful when this stock approaches 8.30.
