As bullish as it can get dudes, we are getting good quater-end results, June's manufacuring index beats expectations, property rules relaxed and now, PMI and employment indicator are reported up! The recent market actions can be observed as intra day selling and strong buying up to closing. Tech sector once again has been reported to be seeing better days with orders increasing from both local and overseas. So that makes it 3 interesting sector to look at, Oil, gas and energy sector, Marine sector and Tech sector.
Many in the forum had warned that our market had moved too fast too furious. They are worried about a retracement. Being a rookie, i am not sure how badly and when the retrace will come and whether this bull run will continue. Using my limited T.A and my past research, this uptrend has been with volume and good fundamental news. So it's not a fake bull. Also, the sell during intra day and buy up at closing is a sign found in bullish market. Even our best friend in trade US has been booming over the past weeks. Looking at regional markets, everywhere is rallying. Nett, I don't think it will end so soon, so sudden. Comments?
Here's a quick look at the charts.
The late buying up in volume pushed up the closing to 0.495 from an intraday low of 0.480
Ho Bee: Outbreak! A quick check on it's fundamentals, it delivered a good FY 04, with property rules relaxed, I think this should be worth a bet.
HG-Metal: News of securing a distributor rights from Ferror China for S.E.A seems to demonstrate the ability of management at HG-Metal. Chartwise, Asymetrical Triangle is forming.
I have no doubts about the need for steel in an improving economy. But share price seems to suggest otherwise.
Ho Bee: Late buying in big lots seen. I followed the big money and got vested. We will see tomorrow if the move upwards continues.
Rotary, are you going to test and break 0.520? Fundamentals wise, i found it sound. Nothing fishy.
