We were seeing Singapore stock market plunging begining last week but we also saw the market recovering from its loss in the 2nd half of last week. While all traders and investors are waiting the for the final Green Light from US congress to approve the rescue plan, the market will definitely come to a half in its rally now.
Instead of posting the regular Singapore weekly stock market trends on Straits Time, I was thinking of change the post today to write some of my watch list today as I found that there are many stocks are trading very near to the resistance level plus at high volume trading today too. I am creating this watch list not for you but actually for myself to monitor the market, if you do like to follow, please make sure you analyse and make your final decision.
Let’s take a look at these stock counters!
Trading Near Support is good strategy to adopt to screen for stock market picks. I did a scan on the Singapore stock market today and again I found that there are many new counters are trading very near to the support now.
Among them are Cosco Corp, Indo Agri, SGX, SPC, Tat Hong & YangZiJiang.
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 [...]
Following the gap down on Straits Time index 2 days ago, STI indeed plunging down further. STI finally broke the 3000 point psychological support level today when it opened this morning. Well, luckily, it started to recapture losing ground in the afternoon trading and ended with a white candle to close higher than 3000 [...]
I have seen Dow Jones is falling down , Straits Time index is also gap down on a triangle formation, Hang Seng Index also incurred a big loss and gap down too. The overall market sentiment is bad now.
From my experience, Singapore Exchange (SGX) always follow the trend of Straits Time index. As I am [...]
