Morning Highlights
We expect consolidation before the uptrend resume. Now is just the start. Most stocks had been running upwards for at least 3-4 days. High chance that the stocks will not run further up. However, there are still opportunities for quick profit taking. To refer to Quick Picks Section.
STI Volume Data on 20/07/2009
Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.
Bullish Stocks (Singapore)
|
|
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
|
1 |
|
ST. Engineering |
2.61 |
2.52 |
|
2.70 |
|
|
2 |
SGXL |
Singapore Exchange Ltd |
7.46 |
7.39 |
|
7.53 |
Profit – CLOSED at TP |
Stock Prices last updated at 11:50 (Singapore Time)
Afternoon Highlights
As mentioned, market should be due for a pullback since most stocks had been running for days.
In the banking sector, with reference to the 3 main banks that we have been keeping close tabs on, DBS is the strongest, follow by UOB and 3rd in place is OCBC.
Last but not least, SGX is up for 5 consecutive days. There is a strong resistance at 7.87, waiting for a pullback. To see chart below:
SGX Daily Chart on 20/07/09
Here is the end of day STI Volume Data
