Thursday, December 08, 2005

Stock Market Directionless (Starhub, Metro, Rotary)

STI closes marginally positive on yet another lacklustre trading volume. We are pretty much directionless for now. After completing my daily sentiment scan, I saw mixed sentiment. There are volume in both decline and incline. The sector I noticed was oil & offshore related. One of them broke out of it's 50 days volume average, Rotary. The other sector is telecommunications. M1 and starhub appeared in my list. But comparing M1 and starhub, I prefer the latter as it has chart formation and good volume characteristics. We are left with 2 days of trading for this week. I will not like it if STI closes at resistance or worse if it close down the resistance line. If it's really a bullish tone, we should see STI clears 2353 there abouts.


Starhub - sudden increase in volume and activities


Rotary breakouts - oil and offshore play


Metro - Why i missed it.