STI rebounded remarkably to 3417.81 which is somewhat near to last Thursday's height. News are coming in positively. USD rebounded substantially with payroll index speculation.
What will be the direction from here? Many would ask. The May effect has not been triggered but we are just at the start of the month. I would call this a temporary rally rather than dead cat bounce. Technically speaking if it hits last Thursday's region means it may be a short term double top which may see a slight decline tomorrow and a slight rebound the day after. Well, this is provided that there are no sudden impactful news coming up and I would term this as a relatively soft landing this week.
Rowsley in play while sentiment on Lottvis seems mixed. This period may not favour speculators but Rowsley at its current 0.315 seems quite safe with strong support at 0.295. Energy, metal and resource stocks rocketed but beware of a immediate correction soon. Ferrochina and Straits Asia are highly speculative and behind the current price seems to be weak hands.
Long term value investing preferred. Bargain hunting ahead. Maintained hold on defensive counters: Sembcorp and Comfortdelgro. Cosco just secured a contract recently may see this counter going on a uptrend after today's correction of 9 cts while STX PO going at a constant pace.
KLSE shed 2.52 while the rest of Asia's market inclined. It can be considered mixed which may trigger a uptrend market tomorrow. On fund's end, Korea Composite still seems attractive while collecting more units of funds this month may be the only chance before the next wave of markets rally resume.
What will be the direction from here? Many would ask. The May effect has not been triggered but we are just at the start of the month. I would call this a temporary rally rather than dead cat bounce. Technically speaking if it hits last Thursday's region means it may be a short term double top which may see a slight decline tomorrow and a slight rebound the day after. Well, this is provided that there are no sudden impactful news coming up and I would term this as a relatively soft landing this week.
Rowsley in play while sentiment on Lottvis seems mixed. This period may not favour speculators but Rowsley at its current 0.315 seems quite safe with strong support at 0.295. Energy, metal and resource stocks rocketed but beware of a immediate correction soon. Ferrochina and Straits Asia are highly speculative and behind the current price seems to be weak hands.
Long term value investing preferred. Bargain hunting ahead. Maintained hold on defensive counters: Sembcorp and Comfortdelgro. Cosco just secured a contract recently may see this counter going on a uptrend after today's correction of 9 cts while STX PO going at a constant pace.
KLSE shed 2.52 while the rest of Asia's market inclined. It can be considered mixed which may trigger a uptrend market tomorrow. On fund's end, Korea Composite still seems attractive while collecting more units of funds this month may be the only chance before the next wave of markets rally resume.
Any opinion herein is made on a general basis and is not an inducement to trade.
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