All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts. If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead. I expect tough times ahead in 2012. UOB with support at… Continue reading Singapore banks in bearish territories.
Despite breaking out of the kumo, STI may be hitting resistance soon. 1. Resistance level from Chikou Span is around 3201.65 2. There is a high possibility that it will retrace.with support at 3124 and 3063. Target timeframe : 2 months for retracement. Note: Singapore election is just around the corner. Take care.
Today, I am just going to stray away from the US stocks and briefly discuss about 2 stocks on the Singapore Exchange. 1. Wilmar, in the commodity sector. A darling that has went 3 folds since the lows in 2009. It was also included in the STI Index last year. 2. OCBC. One of the… Continue reading Ichimoku Chart Review : OCBC and Wilmar