Weekend Wrap

The Dow Jones Industrial Average Index had a rebounce from its 13000 key support level on Friday, ended up with 34 points gain to closed at 13080.

Local benchmark STI did not follow through on its downside broke( refer to previous post with STI 60minutes chart), it managed to bounced back up to where it broke down at 2990 on close. From a technical perspective, it telling me that the bulls are still in control. In a bigger picture, STI is still in a range sideway consolidation from 2960-3030, STI has to clear 3030 before further upside move.

As for the individual stocks, some of the long candidates under my radar for coming week:

Genting sp: breakout from its triangle formation, more upside is expected with target price at 2.0

Below counters are at their support level:

Olam
Indoagri
Wilmar
Sakari
Kepcorp