Welcome to the stock market!!

Crazy news!! The STI is just 7 points away from friday’s high when brexit was announced. It as if Brexit didn’t happen and all it took was just two days for the market to recover back to where it started. Amazing? Crazy? Well, welcome to the stock market, where anything goes and rational thoughts goes out the window.

It might see irrational that market can just recover so fast and you might be lost by now. Well, we too have been stunned by the recovery but as we mentioned before please ensure that your stop loss is in place. We can’t and won’t get every direction right that’s why we need our stop loss in place for moments like this.

So stay calm and lets see what the chart says now

STI june 2016
STI june 2016

As we can see, the short term downtrend was touched and pulled back after that, the next one to look out for would be the 200ma at 2817 then finally if that holds then 2837.  These are some of the resistance points we are looking at. IF the index shows weakness at these areas we might look for shorting opportunities.

Yours

Humbly

 

Sinamars Land

Sinamars Jun 2016
Sinamars Jun 2016

We’re watching this stock called sinamars land and recently it released some news on its website

SOUTH TANGERANG, KOMPAS.com – Sinarmas Land officially announced the development of the Digital Hub area in southern BSD Green Office Park City, South Tangerang. –

It is currently testing the uptrend line of 0.47 and a break above that might see more upside to 0.49. It could consolidate to the end of the wedge so do that note of that see where it might potentially go .

 

Yours

Humbly

Ezion

Ezion Sept 2015
Ezion Sept 2015

Ezion, having recovered well despite market being down during the day, it had a late day movement and had a nice strong closing. With oil recovering in US trade if oil continue to sustain ezion might have a recovery to 80 cents and even to 0.825-0.83 cents subsequently. From there we will have to see how the market reacts. So be alert once it reaches there.

Yours

Humbly

STI

The STI broke it’s immediate support of 2877 on friday and saw selling throughout the day. With Dow closing lower on friday night we might expect the STI to move down and retest the previous support of 2808 level and if a break of that we might even see it go lower to test 2756 area and depending how bad the markets might be we will then update then again.

STI Sept 2015
STI Sept 2015

Yours Humbly