Morning Highlights

Our Focus For Today Is Still On Bank Stocks

ST Engineering broke out during open. However, the position is still not entered as market is trading near to its critical resistance. We need to exercise cautious.

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In yesterday’s session, index experienced a breakthrough of the resistance at 2739.55. Please note that it is important to check if the breakout occurred with high volume as this will help us to analyse our own trades. In yesterday’s situation, market lacks the volume.

On average, the weekly volume traded so far is approximately 7.5578 billion. If yesterday’s breakout is valid, we should expect the daily volume to increase and exceed that of at least 2 billion. Yet, the total volume traded so far by Wednesday was only 3.7976 billion;  with only 1.1425 billion traded in yesterday’s session. Therefore, this signifies that market still lacks of momentum to push the index higher. All trades should be exercised with cautious until index can trade at least 2 billion per day.

Next, we have seen strong movements from the banks during these few days. We are waiting for setups to re-enter for the bank stocks. Among the 3 banks, UOB is the strongest, followed by DBS and lastly, OCBC.

  1. DBS broke high of 14.16
  2. OCBC failed to break high of 8.20
  3. UOB broke high of 17.96

Here are  other shares to observe:

  1. Venture fall 0.26 in the first 15 minutes
  2. Yangzijiang broke high of 1.07, to wait for setups

News Updates

  1. Macy’s raises 2009 targets, notes ‘progressively’ improving business in third quarter‏
  2. H-P to buy networking gear maker 3Com for $2.7 billion‏

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)








1 HWHS Hwa Hong





Overnight, Current Price at 0.58
2 STEG ST Engineering 3.02 2.94 3.10 Not Entered…
refer to new entry signal based on morning’s setup
  STEG ST Engineering 3.08 2.94 2.98 3.18 Triggered, Current Price at 3.07 

Stock Prices last updated at 10.20 (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