HKL
◆ MACD seems turning down but above 0
◆ MA 20 going to cut MA 50 upwards
◆ Lower low trendline, if break $6.4 then there is chance to go up further
◆ Big volume around $6.8
◆ RSI 66 now
I still have 100 shares bought above $7. If price go above $6.5, I will let go and cut lost.
STI
◆ RSI 69
◆ Uptend after MA 20 cut MA 50 upward
◆ Strong uptrend if price cut MA 200 at 2950
◆ Although it went up lately but slight drop in volume.
Likely to carry on uptrend.
OCBC
◆ Price touches MA 200, once cross that then strong uptrend
◆ RSI 73
◆ K 97
◆ MACD above 0 and uptrend.
Generally think it will go on. I have 500 shares bought at $10.4. At this point I cannot tell if it will go above $10 but I will start selling some at $9.4. More of cut lost and buy back at lower price.
Although all indexes have gone up but I don't feel correct. The latest uptrend is driven by holding back interest rate hike. Fundamentally the economy is still weak, the rally not due to growth but due to news from Federal reserves. The following are holding back my view that the economy is rosy,
1. Output reduces
2. Property prices downtrend
3. Retrenchment on going, although unemployment rate is low.
4. Forecast of growth rate reduces
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