Above is a weekly chart of the STI because I wanted to show the larger trend of the STI. Things do not look so good. The STI struggled from August to stay above the very key support of 2640. From the weekly chart, we can see that the STI has been in a down trend since Oct 2010. If the STI weekly chart were to close below 2600, the downtrend could be very severe. Let us see how things unfold in 2012.
Below are weekly charts of Capitaland and Olam. I have decided to highlight these two charts because they are showing extremely weak price action and trends.
Above is a weekly chart of Capitaland. It closed below a key support of 2.275. Capitaland has been on a downtrend since October 2011. It looks like it is approaching the lows of 2009 of $1.785. It is best to avoid buying this stock until it finds support.
Above is a weekly chart of Olam. It looks dangerously close to breaking support of around $2.13. I also would suggest not buying this counter unless it rebounds convincingly from this level.
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