Club Meets - CN Traders

Group 2: HSI (11Mar2011) Study Findings

1) Mid-term downtrend, trading range (24988-hi@Nov10 to 22393-lo)

2) Sup1=22921, Sup2=22393;
Res1=gap(23514-23567), Res2=23930/24434/24988

3) Chart pattern: symmetric triangle not so obvious, may not need to pay attention. (Anyway, triangle not that important for indices)
4) Candle stick: last one hammer not a gd one as the tail is too short
5) Indicator: stochastic bearish crossover but Macd showing bearish 4g1r, followed by 1r

Conclude: In contradicting mode: bearish stochastic but Macd crossing abv o-level; important to cross/fill the gap.

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STI bearish below 20MA
>SUP:3000/2960/2910
>RES:3050/3120/3180
>price down, volume down=> bear losing momentum (bull await to return)
>FA: election around the corner May/June => STI may bottome up end-March
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Indices trading
-EWS (NY listed S'pore Index) - trading nite time only
-EWJ
-EWH
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SembMar, KepCorp - watch out for breakout
DBS - due to rebound, testing 50MA res, watch out for 4g1r
OCBC