Start of a new week

STI formed a shaven white candlestick which is a sign of bullishness since it managed to close at it's high of the day. I am unable to get the volume of the closing for today so can't really confirm the strength of this candlestick. STI is now quite close to it's resistance level of around 3691. I notice that this previous upside gap occurred after this uptrend has been underway for some time already so this may be an exhaustion gap which is not good but as of now, nothing is confirmed yet.

Straits Times Index Chart:




A lot of charts seem to be ripe for a trade entry so i will post some charts for reference here.

Chartered seems to be forming a base pattern. RSI and MACD are showing bullish divergence so this counter may perhaps be moving north soon. The 3 resistances line formed by the 50d n 100d EMA and the 200d MA are the only things that make me cautious.

Chartered Chart:


ChinaKangda has been appearing in the top movers section. Today it formed a confirmed double bottoms with a breakout of resistance. However, the volume dun seem to be heavy so it may be prudent to wait for subsequent closings.

ChinaKangda Chart:


Singtel has retraced back to the $3.7 level for today. This is a classic case of resistance turned support as $3.7 was the highest resistance level reached in Feb and Aug this year. It should be a low-risk trade entry since strong support is confirmed at $3.7.

Singtel Chart: