- Trend - Side
- Momentum - Moderate Flat, Directionless where all indicators point flat.
- Resistance - 3100
- Support - 3070
- Candlestick - NA
- Volume - Moderate
- Pattern - A big Symmetrical Triangle is forming - a bullish pattern.
STI is trending into a narrow band. What I would like to highlight is the Symmetrical Triangle Formation toward the support and resistance line above. Symmetrical Triangle is a high probability Bullish Signal, of course coupling with the battle of US Debt Ceiling on 2 Aug. Indices are trending directionless, interestingly, all indicators show the straight horizontal line too.
If the world can't afford Greece Default, US Debt Ceiling should be raised too. Those uptrending stocks will gain more momentum, once the news is positive.
Who are the TA uptrending stocks?
- 3 SGP Banks - DBS, UOB, OCBC
- 3 Shipping Builders - KepCorp, SembMar, SembCorp
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