After closing above 3,000 points yesterday, profit taking set in today. This looks like a good opportunity to pick up stocks. Support for the STI is around 2900 and resistance is around 3200. Momentum for the STI is decreasing, while both the medium and longer term trend is still up. So generally, traders and investors should be long in the market at this time, but should practise good risk management measures such as the setting of stops at the appropriate levels to manage losses.
No comments:
Post a Comment