Large Caps Gain Steam
1. SGX (financial services)
SGX 2Q profit grew to $76 million on the back of increased daily average traded volume. This 16.7% increase in quarter profit reflects the resilience and rebound of Singapore's key market place and the work SGX has been putting into attracting more securities and derivatives trades.
SGX 2Q profit grew to $76 million on the back of increased daily average traded volume. This 16.7% increase in quarter profit reflects the resilience and rebound of Singapore's key market place and the work SGX has been putting into attracting more securities and derivatives trades.
- Price broke out last week above $7.20. Even stronger buying pressure ensued in the first half of this week with yet another big white candlestick with an open at the same levels as last week's close. Very bullish situation.
- MACD - is trending upwards is increased positive divergence.
- RSI (25w) - heading towards 70% levels with some leeway to go before overbought status.
- Long with TP - $$7.80 (-2% from current levels) in the near term (1-2weeks). If buying pressure ...