Morning Highlights

Our Focus for Today is on Individual Stocks.

 

Presently, we are observing closely at Venture. This stock attempted to test high of 7.28 yesterday. Though it fails to break through but it was traded with heavy volume. Finally, it broke out decisively today.









Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume. [The Quick Picks referred herein contain overnight positions from yesterday]

Bullish Stocks (Singapore)

1

WLIL

Wilmar International Ltd

5.25

5.21

 5.29

5.29

Triggered – Current Price at 5.37

(Take full or half profit & trail the stock. Watch out for price at 5.71)

2

SIAT

Singapore Airport Terminal Services Ltd

2.23

2.13

 

2.33

Triggered – Current Price at 2.23

3

VENM

Venture Corp Ltd

7.63

7.44

7.53

7.82

Triggered – Current Price at 7.90

(Conservation Traders can choose to take full profit or half profit) (Aggressive Traders can choose to take half profit and continue to trail the stock) 

Watch out the price at 8.79

4

STEL

Singapore Telecommunications Ltd

3.22

3.12

 

3.32

 

Stock Prices last updated at 12:00 (Singapore Time)


The Moving Averages on the STI daily chart have crossed implies possible uptrend establishing. For traders who missed the early setup for Venture, here’s another one. To buy at 7.65, Stop Loss at 7.56 and Take Profit at 7.74

 

 

Additional Information on Venture:

Venture had just broken out of the consolidation pattern with heavy volume. The moving averages are diverging, showing strength of a possible continuation of an uptrend. History has shown that it is rarely seen for a stock to run for consecutive 5-6 days in a row, so is best to re-look at venture once stock starts to pause too long.

Too long a pause might signify a decrease in buying interest, and a correction might be due. However, that does not mean that the stock is reversing. It might just do a correction and after correction, it may resume to its original trend and go higher.

 

Afternoon Highlights 

Strong emphasis is placed on UOB. This is the strongest performance out of the 3 banks, with high of 15.70 made on 8th May this year. Today the stock traded with high volume, we are waiting for a pullback to form to enter position.









In Summary,

Asian share markets were mostly higher on Wednesday after a rise in the United States, with technology stocks leading in Tokyo and Seoul after some optimistic comments from Intel Corp. on its earnings outlook. That should explain the movement on Venture since it is a technology stock.

 

The STI is up by 78.87 with heavy volume of 1.79 billion traded. Today could be a kick start of a new uptrend forming; hence, we shall wait for a pause before entering the market. As of current situation, the market is definitely more upward biased from now on.