Upgoing market for the past week. Tiong Woon and Chemoil had went up quite a fair bit. These two may not be as upbeat, but if any crude related impactful news may affect it. The global sentiment was exceptional positive spiked by postive US payroll increase and decreasing jobless data. Asia EX Japan's performance had been exceptional well for the past week. Uploading was seen in STI even pior to Good Friday. 3345.86 is seen to be rather postive but RSI has shown that STI is around the 80 region which shows its relatively overbought. However, the trend line is currently slightly above 5 days MA. Coming week, the market may be taking que from the oil and energy related news like US-Iran. Nymex Crude Future is at 64.28, downtrend limited despite Iran's diplomatic stances. Based on the above, a slightly healthy correction may be expected after a rally from Monday's 3250 region to its current point. For the next coming week, Sembkim, Sihuan and Lottvis may be in play. Lottvis is highly speculative and its to be monitored with caution. If the uptrend continues, these high volume stocks will be enjoying the ride.
Long term wise, Sembcorp seems to be going up at an increasing pace to its current $5.350. $6 should be coming during the next capricon effect at Jan 2008. Rotary is another stable stock related to energy to be monitored closely.
Any opinion herein is made on a general basis and is not an inducement to trade.
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Any opinion herein is made on a general basis and is not an inducement to trade.
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