Well what a week it has been. I haven’t been able to blog much compared to last week but I sort of find that using a weekly moving average is bad for trading but great for positioning for the long term.
We mentioned at Investment Moats last month that we should see a consolidation here or a break down.
This week we saw how important that 43 week EMA was and a huge bounce off it for a 5.6% gain.
Were any of you traders able to profit from it?
While such a bounce seem to herald a continuation of this bull market, we might still see my original scenario panning out, where the next week go lower, lower, higher. This would bring the 17 EMA and 43 EMA closer.
A sharp move next month my see another head and shoulders forming which would be bearish.
We saw a similar 5% rebound this 2 weeks on the STI. Now the 3000 region have been established as a strong resistance or support. Lower highs since October last year forms a resistance line that the STI must breach should we want to see continuation in this bull market.
The caveat must be that the 17 EMA is close to the 43 EMA.
There many sells to take profit there are many of buybacks. I am looking into that Sheng Siong IPO and possibly Diary Farm. Probably not for dividend but as a growth stock.
I am also doing a comparison across some industrial assets belonging to Sabana, Aims AMP and Cambridge.
You can tune in to any changes to it here at my Stock Portfolio Tracker >
- Singapore Savings Bonds SSB January 2024 Yield Plunges to 3.07% (SBJAN24 GX24010F) - December 1, 2023
- New 6-Month Singapore T-Bill Yield in Early-December 2023 Should be Slightly Higher at 3.85% (for the Singaporean Savers) - November 30, 2023
- Have the World or Emerging Market Healthcare Stocks Outperform the World and EM Index? - November 26, 2023