end of day picture for STI

Good evening, daily chart of STI is attached above. Today's candle formation looks like a bullish hammer. STI also seems to have found support on the 20day moving average, bouncing strongly off that line. This level also corresponds to the previous pivot high of about 3100. Momentum based on the MACD is still down, so the near term picture is a bit mixed. A close above 3130 level is a strong sign that the uptrend established since March 2011 will continue.

end of day picture for STI

Good evening, above is a daily chart of the STI. Momentum is coming down, near term support is at 3130, but mid and longer term trends are still up.

end of day look at STI

Good evening. Above is a daily chart of the STI. The nearer term picture for the STI is getting weak. Momentum is dropping. It looks like the STI is headed towards support at 3130. Resistance is around 3172. Longer term picture is still on the uptrend.

end of day picture for STI

Hi, a quick look at the STI at the end of today. Above is a daily chart of the STI. I was looking forward to the STI heading towards 3230 after it closed above 3180, but i guess it is time to take profit. The STI has fallen back to previous strong support at about 3130. If the STI manages to rebound from this level, then this time it should head towards 3230. Both medium and long term trend is still bullish.

end of day review 8 apr 2011

STI's daily chart above. The STI has been rising since mid Mar 2011. The upward momentum is extremely strong. Short term moving average has turned up sharply. Today, the STI managed to close above previous support @ around 3180. Next minor resistance is 3228 and the next major resistance should be at 2011's high of 3280.



Something interesting must be brewing at Cosco Corp. It rose $0.08 from the open @ $2.17 to close @ $2.25 at extremely high volume. It looks poised to hit 2011's high of $2.44.




Golden agri managed to breakout of previous high pivot @ $0.72 on increasing volume. Next resistance is @ $0.75. The upward momentum of this counter is getting stronger.

end of day review: 4 Apr 2011

A look at the STI. Uptrend is getting stronger. The STI has broken out of major resistance at 3130 and looks poised to head towards next resistance @ 3180.



Genting SP has been consolidating for quite some time, and is now showing signs of heading towards its previous high of $2.35. It has broken through the psychologically important $2.00 barrier and looks like it is headed towards the next resistance at $2.16. Major resistance area is around $2.16 to $2.26. A successful breakout of this zone will see Genting heading towards $2.35 in no time.




An extremely strong performance by Cosco today on very high volume, which saw it going from a low of $2.07 to close at $2.17. This is just shy of the resistance at $2.19. A successful breakout from $2.20 should bring it to its 2011 high of $2.44



Noble group is also on an uptrend. Resistances at $2.25, $2.32 and finally to its 2011 high of $2.40. Support is at $2.17.

market wrap up: STI and Genting SP

Just a quick look at the STI after today's close. Above is a daily chart of the STI. It closed strongly above the 50-day moving average; a good sign, but is encountering strong resistance at the 3112 level (previous swing high and multiple support level in the past). Momentum is still strongly upwards, support is around 3060.



Above is a daily chart of GENTING SP. It put in a strong showing today, breaking above the $2.03 resistance on high volume to close at $2.07, while at the same time also closing above the 50-day moving average. Momentum is also strongly upwards, with next resistance at about the $2.20 level. Immediate support is at $2.03 (previous resistance), but the next support is at $1.86 (the previous swing low).