Morning Highlights

STI retrace back near low of 2567.66 created on 29th July during the market open. It is now bouncing off from the low.

 

Currently we have not identified any new opportunities. Simply hold on to the existing positions.

 

Our Focus for Today is on Mid Caps & China Stocks.


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)

 

Symbol

Name

Entry

SL

TSL

TP

Remarks

1

CHEL

Chemoil Energy Ltd

0.51

0.455

 

0.565

USD Counter – Overnight, Current Price at 0.48

2

EZHL

Ezion Holdins

0.76

0.695

 

 

Overnight, Current Price at 0.735

3

HFYL

Hyflux

2.68

2.44

 

2.92

 

 

Stock Prices last updated at 14:12 (Singapore Time)


Afternoon Highlights

New Trade Opportunity refers to Quick Pick 3. Enter with small risk!

We have narrowed down the potential stocks as mentioned yesterday into 4 base on today’s market performance, namely: Hyflux, Pan Hong, Macquarie International and Golden Agri

These 4 stocks are holding well despite of the market drop, especially Hyflux that even went up in high volume.

 

In Summary

We are facing a steep retracement for the index for the time being. However, between 2211.81 – 2424.52 forms a very good support zone for the index. We can see from the moving averages that they are still pointing up. High chance that we might undergo a period of retracement. So we are looking out for double bottom formation to give us a confirmation that upward trend shall resume. As of now, we advise to stay away from the market, else, open limited positions with small risk.

On a long term basis, the market is still not in bull run. The moving averages are coming close to flat and will require some time for them to turn upward trending. During this week of trading (3 Aug – 7 Aug) there is significant retracement of the index. High chance that it might continue for the next few days or even weeks. Till then, all trades opened now are most likely for short to medium term range. NO long term trades!