As mentioned in my note this morning, I expect short term weakness amid rising interest rate environment. However, see such weakness as good time to pick up some solid counter.
A quick run through:
Olam
Weakness amid uptrend line.
See support at 2.43, with upside cap at 2.69.
Immediate resistance likely at 2.54 region.
Noble
Seems to have broken the uptrend line and poise for further weakness ahead.
With 2.98 support broken, this counter may slip further to 2.79 support. 2.98 region form immediate resistance.
Capitaland
Freefall since going XD.
However, RSI seems to indicate overselling. Hence should expect some short term rebound ahead.
Immediate support at 3.62 region.
SMRT
Worse than expected result see the counter being sold off over past 2 days.
2.04 immediate support. Expect further weakness to persist, until recent buyers exit.
Citibank
weakness amid profit taking from recent run up.
However, seem support at 4.29 region. (good area to queue to buy)
Counter has returned to profitability. See this supporting price ahead.
Goldman lawsuit may keep pressure on financial sector, but see any weakness as buying opportunity still
Above are my personal take only.
This blog is a selections of my investment views to my client. If you find it useful or have additional information to share, please do let me know. These blogs are my personal views and is not meant to solicit any sales or investment on any securities or investment. I may have vested interest in some of the counters or investment products, hence please invest at your own risk. As usual invest in what you understand and do your own homework. ML is a licensed stockbroker with one of Asia Leading Stock Broker firm. To contact him, please email: icewolfmike@gmail.com
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