Morning Highlights

The STI opened high at 2725.0, up 31.66 points after the DJIA rose to a new closing high for the year on Monday. It is currently trading well above the 1st resistance level but stopped before the 2nd resistance at 2728.98 as mentioned yesterday

Our Focus For Today is on Bank Stocks

Wilmar cleared resistance at 6.48, to wait for setups. New trade signal for Wilmar, to Buy at 6.60, Stop Loss at 6.49 and Take Profit at 6.71.

Corporate Announcements
NOL: Announced operating performance for the period 19 September 2009 to 16 October 2009, reflecting volumes that rose 14% year-on-year (yoy) but average revenue per Forty-foot Equivalent Unit (FEU) declining 29% yoy.

Wed 11 Nov 09: Noble, Yanlord, IndoFood 3QFY09, SingTel 2Q09

News Updates

  1. Wynn Resorts declares special dividend of $4/share
  2. Sempra Energy’s quarterly earnings rise 3%
  3. BorgWarner sees $1.8B net new business 2010-2012
  4. Cadbury rejects ‘derisory’ Kraft offer of a 9.8 billion pound ($16.5 billion) hostile takeover – Cadbury rose 0.42% to 50.71 whereas Kraft fell 0.93% to 26.53
  5. GE and cable operator Comcast to create a joint venture to own GE’s NBC Universal valued at about 30 billion dollars.
  6. Wall Street stocks vaulted higher on Monday as investor sentiment was helped by a Group of 20 decision to maintain stimulus measures to hasten economic recovery from recession. The DJIA rose a hefty 203.52 points (2.03%)  to end at 10,226.94, logging its best closing level since 3th October 2008. (CNA)

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 HWHS Hwa Hong

0.515

0.465

 0.525

0.565

 Overnight, Current Price at 0.585
2 STEG ST Engineering 3.02 2.94 3.10
3 Centraland 0.56 0.52 0.60  
4 WLIL Wilmar 6.60 6.49 6.71  

Stock Prices last updated at 10:00 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

  1. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  2. City Development – Buy at 10.50, Stop Loss at 9.55
  3. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  4. Ezra – Buy at 2.08, Stop Loss at 1.66 
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