Chart Source: Poemsview 25th Sept 2018
Straits Times Index seems to be resisted by the 50 days moving average yesterday as it hit there and came down.
Our Straits Times index staged a relatively impressive rebound from its double bottom of 3100 to a high of 3232 so a small pullback is not too much to ask for.
As its resisted by the 50ma, a pullback to around 3180 area might be possible which might present an opportunity to scale into the market for a rebound. At this level we’ll evaluate the market again.
A rebound might happen which might take us to around 3260 level. A break above the 50ma might signal more upside. So we’re watching for the break.
In the meantime we’re also having a watchlist of stocks for both rebound and for the downside too.
Do you have a watchlist?
Still clueless about what’s happening in the market?
Drop us a line and we’ll be glad to help.