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Wednesday, October 5, 2011

STI Set for a Rebounce

Following US market up by 153 points last night, its major support level at 10800 lost and recovered in last hour of its trading. Nothing has changed the general trend--down, but stocks may rebound for few days as most of the stocks are greatly depressed and oversold. (quote from reports: after the market close yesterday, 10% of the index constituents are above their 20D MA (vs 13% on Monday), and 37% of the shares are technically "oversold" vs 10%. )

I'm focusing on blue chips for a quick rebounce:

Cosco: bullish divergence in sight, target is 20ma at 98.5c

kepcorp
HKLand
Sembcorp

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