Haven't updated over the weekend as I felt really sick. It's good though, that I've recovered sufficiently today to study the markets once again as it opens for this new week.
At the point of typing, the STI is at 2447 points. Sentiments have been rather bullish and there are certain counters worth taking note of that I feel have potential riding on this uptrend.
One of which is Raffles Education Corp and the other STI ETF, which is SGX's own exchange traded fund. There seems to be divergence on the MACD and prices have crossed the moving average. Furthermore, prices on both counters have passed their previous resistance level.
Other counters I am currently monitoring closely include Hyflux water trust and Singtel. Hyflux water trust has been bullish recently, with prices greatly exceeding the previous resistance level. Prices seem lofty at this point in time but the next few days will provide a better idea on its direction and sustainability. Singtel has been on a consistent uptrend but gains might taper off if prices start to fall or move sideways. However, there are coming dividends on Singtel on the 5 August. This might push the prices up further till then. Close attention is needed for Singtel this week.
Happy trading!
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