STI Outlook for Today; 2878 will be SUPPORT for today while 2917 is the Upside Potential
Posted by admin in Events and Advertisements, Market Analysis, Stock PickGood Morning Everyone,
We have just completed the 32ndMentoring Program over the weekend and boy are we equally tired out but also ecstatic with what happened. Not only we have just trained another group of V3Go grads who will be ready to combate the real market within the next 2-3 weeks, we also believe that they will be outperforming the market soon once they master the techniques after their hand holding sessions. V3Go Techniques have proven itself since 2007 and we believe more and more people will be equipped with the techniques in the time to come. We target to hit 45 batches by end of this year, locally and overseas.
32nd V3Go Batch, JIA YOU!! (Keep striving for the Best in Chinese).
For today, we are are looking at the STI to have its limitation towards the upside at around 2917 while the support at 2878. On Friday, we mentioned that as long as the STI crosses the 2890 level, it will go UP? Indeed, it opened exactly at 2890 as forecast (Incredible right?) hit a low of 2884 before U-turning to cross above 2890, to end at Day high of 2906.
We are expecting a bit of side way movement for today and expect 3rd liners and penny counters to continue the limelight these days. Some shares like Z-Obee are expected to go into some profit taking mode soon shall it fail to trade higher after recent fury upside.
While on the positive note;
CPO stocks are showing signs of some support recently thus traders are advised to watch your short positions closely.
Bank shares as predicted last week, are moving higher and we might see DBS resisted at 14.60 first. S$15.04~15.08 will be the next resistance range while support at S$14.10~S$14.14.
Overall, we are recommending our grads to stay caution and exercise prudence strategies towards this market for the time being as market doesn’t seem too convincing to choose a direction yet. Some blamed that it is due to the ongoing speculation of the window dressing for the year but in honestly, I don’t really think so. (Personal Opinion).
Nonetheless, do take note of what we shared today and may everyone STRIKE GOLD in their trading today.
Have a great trading day ahead!
Disclaimer apply as usual.
Kelvin Han
aka Trend Master
Originator of V3Go Mentoring Program
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