Weak rebound

As expected from TA, Dow found support at the level which i suggested 3 days ago. Today i took a look at the STI and well, it is not looking that great bah. The market closed higher but with lighter volume. The next resistance level for the STI is the 50d EMA so if it fails to break it, things will be looking very bearish. Saw a lot of charts testing their gaps today but almost all failed to fill up their gaps.

Anyway i saw the summary of 'The Edge' which is an investment issue on a trading forum and it recommend a hold on Frasers Centerpoint Trust with a target price of $1.67. I open my chart on this counter and to my dismay, i saw a confirmed double tops with a break of it's neckline with heavy volume and it broke with a gap too. I think anyone can tell that this is one stock which u should not hold. Always take such recommendation with a pinch of salt.