During the course of last week, the STI fell to a low of 2,208 points, before rebounding up strongly to finish the week at 2,528 points. In my opinion, in order for the trend to be considered as reversed (i.e. from a downtrend to an uptrend), it must close above 2,560 points when trading for the week closes this Friday (i.e. 03 April.) Otherwise, in my opinion, the overall trend is still a downward one.
The share prices of quite a number of blue chip companies rebounded last week – but in my opinion, the trend is still a bearish one.
Before I proceed to analyse the share price movements of each of the 30 blue chip companies last week, and possible movements in