Will the optimism be carried over to next week?
Last week’s market movement was peculiar as we noticed gap up and downs throughout the week with Friday’s candlestick closing with a almost solid green status. That said, I am still wary of these spike in the STI because most counters are still down at the moment. As such, be prepared for the index to retreat in the coming week as there is still little reason to buy into this optimism at this point of time. The good news is that the STI is still considered cooperating its trends and more or less reasonable for traders and investors to enter and exit thus far. This is after all a good sign as it shows how the market is going back to normalcy
STI – Updated Daily Chart
The daily chart has been rather turbulent in the last week as the activities pre and post market hours...