STI more upside

I found 2 more breakouts to add to the one shouted at 4:30pm. Sorry I had to discount Wingtai because the chart formation and indicators doesn't look attractive to me after close examination. After my daily sentiment scan where i decipher the market by volume and price actions, I discover most bluechips are still sleeping. Volume are not even close to daily average. In addition, the selling today is pretty well absorbed. Weak holders could have tempted to take some profits first as there is still uncertainty in the air. I especially like the technology sector. After the recent rally, most of them retraced on feather light volume.
With STI now resting at 2306, I think my target of 2350 is achievable when technology sector and banking sector rally again.

For those unaware, Cosco stock split 2 for 1! MapleTree bought more properties (this explains why it's volume was so heavy yesterday). Semb Kim, I mentioned lots of insider buying and it was a breakout as reported yesterday. Guess what? This morning it released a piece of positive news... now we know why the heavy volume yesterday. Is it fair to us the retail investors?

I would like to re illiterate that breakouts are not for contra. It can retrace up to 8 sessions before another push up. Also it is not a holy grail. Infact there is non in this world. No system is perfect. So please have your own cut loss discipline in place. If you review past charts, you will notice how breakouts will continue to rock their way past resistance after retracement.




UTAC - breakout in 50 days average volume


Raffles Medical - Flat base breakout.


Aqua Terra - breakout of 14 days volume