sti-30th-nov

Overview of STI

Here’s a mid week peek at a few counters OCBC, Olam, Accordia Golf Tr and Valuetronics.

Nothing too exciting at the moment, but this is exactly when we look out for interesting opportunities next!

STI is not really going much of anywhere recently, the greens on our scan results are not strong these few days.

Besides OCBC(courtesy of a student posting to highlight), nothing much else looks good.

However, a couple of counters have potential to get interesting if they can move up with valid signals appearing, should be good.

 

OCBC

ocbc-30th-nov

(This trade is courtesy of one of our students posting on our private facebook group.)

Factors For: It has just broken up from consolidation.

Factors against: Major levels of resistance above. Highly correlated with the broad market at the moment.

Conclusion: First valid signal. Still looks like a good trade if can get valid entry price.

 

Accordia Golf Tr

accordia-golf-tr-30th-nov

Factors For: Currently in a consolidation, it was moving higher prior to this.

Factors against: Not a valid signal because TIF is still red.

Conclusion: Follow system, no trade yet. Broadly it looks interesting so think can keep in view for a valid signal upwards.

 

Valuetronics

valuetronics-30th-nov

Factors For: Trying pretty hard to break through this resistance area to continue the trend up.

Factors Against: Not a valid signal because TIF not blue.

Conclusion: No valid arrow means no trade. But also can keep in view for valid signal upwards at a later date.

 

Olam

olam-30th-nov

Factors For: Unable to break above that 2.15 level still.
First valid signal on the 17th of Nov, no valid 2nd arrow yet.
Technically, it looks like a valid short and we are able to get same or better price than the first arrow.

Factors Against: Uptrend since March, but consolidating since September. Suspect trend is now downwards, so it’s quite a fresh trend.

Conclusion: Personally think can consider scaling in if can accumulate a bit at first arrow’s price or better. Keep a decent stoploss.

 

Good trading folks!

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