My last post on 31 May showed that Singapore Straits Time Index (STI) enjoyed a bull run so far. STI upward bull run was cooled off last week with a pennant like consolidation pattern. Finally, STI dived 2.61% downward and the upward trendline was broken today.
Singapore Straits Time looks to have similar trend as Hong Kong Hang Seng. I observed an upward trendline. The market managed to trade higher last Friday to create a cheerful start for the new year 2009. We have seen many market was having a good start last Friday.
Do you think this upward momemtum will lead to a bull run?
After seeing the US markets hitting the 20d MA resistance, I also glance through all the stock market charts and trends of Asian Stock markets. I am seenig many of them are trading near to the resistance or support level now. So, this week is very critical to watch to know the market trends for the last month of 2008.
Let’s take a look at the video now!
We were seeing Asian market hitting resistance last week. I shall now take a quick look on Singapore Straits Time Index stock market trends now.
Let’s take a look at STI immediate support now!
My last stock picks on Singapore stock market was Parkway and Yanlord. I have seen Singapore stock market has also going bearish today after the market condition seems to deteriorate in US.
I will not do a through analysis on each stock today as I am a bit tired. However, I will just post them here or your reference such that you can take a deeper look into the following stock picks of the day on Singapore stock market.
We have seen that the US Dow Jones market trends is heading downwards. S&P500 & Nasdaq is also having the same bearish pattern as well. The US down trends will definitely spill over to the Asian market soon.
I am looking at some stock picks on Singapore market today. I have found Parkway and Yanlord offering good reward/risk ratio.
