I thought that Singapore STI was support well on the gap support yesterday. Sometimes, the market can really make quick U turn and the index dive by 70+ points today on fear of another round of US financial trouble.
As bearish outlook on US plus the break of STI gap support, I did a scan using my 20d MA as resistance, I found a few stocks that are potential to short.
Are they any good potential stock market picks now?
They are SGX, OCBC, UOB and Semb Corp. These are all STI index component and they will definitely lead the dive as well if the market is going down. Especially, SGX, SGX has been following the movement of STI very closely.
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
investors should look at good value stock to invests in, as currently the market is unstable.