Daily Market Opinion for 10-May-2013
STI continue to head a higher level yesterday despite regional markets in the sea of red. The positiveness started during the market opening where gap up occurs. This bullish opening had helped to attract more buyers to enter the market during the early morning session to propel STI towards its resistance of 3430 level. However, when HSI opens with a negative note, some selling actions did happen but it was not enough to go against the strong bullish momentum. Buyers make used of the weakness in the morning to enter the market again to push STI higher. STI managed to hit as high as 3434 level before it hovers at 3430 level for the day. Eventually, STI closed near to its high and ended at 3432 level. STI gained 19.76pts for the day. Last night, DJI’s bullish streak stops as it close with 22....
...