Saturday, January 9, 2021

What is the next target for STI

after covering the gap mentioned in From weekly chart, STI formed a double bottom and back test at 2800 before moving up to 2900+ region. Potential target for a double bottom formation would be ~3100-3200. This may take few weeks/months.

Currently, STI is moving up due to recovery of cyclical stocks. As STI moves up, I would adopt a re-invest strategy and look out for opportunities to broaden my portfolio.

Did a divestment and several investments this week; mostly based on technical analysis.

Sold some SGX @ $9.76.
Added ST Engineering @ $3.78.
Added Keppel DC Reit @ $2.72.
Added Alibaba @ US$229.55.
Added ASHR @ US$42.55.

STI ranged between 2832 and 2993.

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