Thursday, August 24, 2006

Market Directions

I have checked the market indices and here's what I think:

Nikkei: Support at 15,710, how nice if we can have a candlesticks reversal here.

HangSeng: Daily chart on support, it will be nice if it can do a candlesticks reversal. Otherwise, if close ugly, consider Put Warrents because on the weekly chart of HSI, we have a negative divergence with shooting star and black candle confirmation.

STI: Need we say more??? It will just follow global need to see it's chart la! hahaha Ok ok... we are still struggling at higher end of trading range, downside more than upside. The only plus point i like about it is the shorter term(50) moving average has kissed the longer term moving average(100).

As for individual stocks, I looked at mine holdings only. It is Friday, look at the weekly chart and how your stocks will close and then you will know if next week gonna be bad?

Cosco: Time to becareful as the weekly chart showing possible hanging man if it closes ard 1.60.

MediaRing: As long as 0.340 holds, i'm comfortable.

UTAC: Suddenly tech stocks were not in favour. However, on the weekly chart, still looks healthy to me. I will still stick to my cut loss strategy as posted days earlier.

For those interested, you can join my mailing list using the Join Yahoo Group on top of this page. Just fill in your email address and click! Viola! It's that simple!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.