Above is a daily end-of-day chart of the STI. The major trend is still up, medium trend is still up, but on the shorter term, it looks like it will continue to trend sideways as the momentum as shown by the MACD is still weak. Support is at 3247 and resistance is at 3330. My recommended strategy is to buy blue chip counters on pull-backs.
Above is a weekly chart of Capitaland. Its price has retraced somewhat from a peak of 4.025 and closed today at 3.48. There is strong support at the 61.8% fibonacci retracement level of 3.4 and this looks like a good time to accumulate this counter in anticipation of a break to the upside. Upside target would be the previous high of 4.025 with a stop of 3.28. (below the 144-day EMA).
Above is a daily end-of-day chart of the STI. The major trend is still up, medium trend is still up, but on the shorter term, it looks like it will continue to trend sideways as the momentum as shown by the MACD is still weak. Support is at 3247 and resistance is at 3330. My recommended strategy is to buy blue chip counters on pull-backs.
Above is a weekly chart of Capitaland. Its price has retraced somewhat from a peak of 4.025 and closed today at 3.48. There is strong support at the 61.8% fibonacci retracement level of 3.4 and this looks like a good time to accumulate this counter in anticipation of a break to the upside. Upside target would be the previous high of 4.025 with a stop of 3.28. (below the 144-day EMA).
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