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
Weekly market analysis covering Singapore, US, Hong Kong and China — stocks, REITs, ETFs and trading perspectives.
Wednesday, October 5, 2011
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