Morning Highlights
The Market open up strongly despite overnight drop on US after it’s been up for 7 consecutive days. 2246.45 serve as a good support for short term from now. Currently
UOB is the strongest out of the 3 bank stocks that we had narrowed down.
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)
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|
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
|
1 |
DBSM |
DBS Group Holdings Ltd |
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2 |
UOBH |
United Overseas Bank Ltd |
15.80 |
15.40 |
15.78 |
16.20 |
Triggered – Current Price at 16.02 |
|
3 |
VENM |
Venture Corp Ltd |
8.31 |
8.11 |
|
8.51 |
Triggered – Current Price at 8.26 |
|
4 |
STEL |
Singapore Telecommunications |
|
|
|
|
Breakout at 3.32 |
|
5 |
STEG |
Singapore Technologies Engineering |
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|
|
|
Waiting for Setup |
|
6 |
WLIL |
Wilmar International Ltd |
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|
|
Breakout at 5.62, however, there is an overhead resistance at 5.71, so no position for this stock at the moment. |
|
7 |
SGXL |
Singapore Exchange Ltd |
|
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Test high of 7.87 SGX has one more overhead resistance at 8. |
|
8 |
KPLM |
Keppel Corp Ltd |
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Test high of 7.70 |
|
9 |
DBSM |
DBS Group Holdings Ltd |
12.52 |
12.12 |
|
12.88 |
|
|
10 |
SIAL |
Singapore Airlines Ltd |
|
|
|
|
Undergoing retracement. Looking for an entry when it break out 13.84 |
|
11 |
|
Fraser CT |
1.01 |
0.96 |
|
1.06 |
To be traded on daily chart |
|
12 |
|
Ascott REIT |
|
|
|
|
Undergoing retracement. Looking for an entry at 0.87. (KIV first) |
Stock Prices last updated at 15:52 (Singapore Time)
Afternoon Highlights
Our Focus for Next Week would be more on Financial & Property Sector.
STI current strong support is at 2446.45; 2463.46 could be the next good support to lookout for.
Given the upward strength, it indicates a higher chance that the stock market is recovering from the recession. This could be a good sign to start investment for long-term. Possibly to be end of this year or even earlier.
To look out for DBS and OCBC. It seems that UOB has over performed, which DBS and OCBC have not.
Allgreen Properties test high of 1.14 made on 29th May this year.
HongKongLand had been trending for the past few days. The stock managed to break its high of 3.74 created on 1st June. We are waiting for a pause to enter.
Wilmar is one of the most impressive stocks so far. Ever since it made a low of 1.79 on 28th Oct 2008, it is by far the first stock to recover from subprime selloff. The high of 5.71 (created on 30th May 2008) is once again tested in yesterday and today trading.
In Summary,
Today the STI is up by 34.07points
