Technical Analysis
Sell into Strength? Wilmar, SIA Engr and SIA
By Stock Market  •  June 25, 2013
<Late Update. Discussion as per 20 Jun 2013>
 
It was reported that the Singapore PSI hit a record high of 321. Please hydrate yourself well. And take care. A colleague told me that he went to a few places to look for a mask for his mum, it was sold out.
As mentioned about 2 days ago, we have briefly discussed that it worthwhile to consider selling into strength.
Signal (1): As shown below, STI hit a high of 3235 before paring down to close at 3213. Failure to close the gap of 3211 - 3243.
Signal (2): Besides that it also failed to break above the support-turned-resistance line.
Signal (3): Both US stocks and bond slide amid dollar rally. As shown below, Japan and Korea market are also in the red.
It seems like the above mentioned signals are relative bearish but the silver lining was Singapore market ...
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