As expected, the global markets rebounded in the first week of January 2019, following through the Christmas Santa rally… this week begins with US and China having meetings over today and tomorrow. Meanwhile, the Singapore market lit up like New Year’s Day fireworks today, rather bullish and about time too (after being beaten terribly for the last year).
The STI ETF has a gap up this morning and if it closes above the 55EMA and stays above, there is a high potential for a 8% rally till March. MACD is turning bullish and can be supportive of the rally. Note that the price had broken out of the trendline and tested a couple of times. A green arrow is the marked entry point, albeit early.
A property favorite, CityDev, is double bottoming and an early entry is marked. This should be expected to break above the resistances for a potential 16% upside. Similarly, MACD is turning and would be supportive of the rally.
A favorite bank counter, DBS, had a triple bottom and is aiming to break out as well… similar gap up observed, and a gap and run would break the resistances ahead for a good 12% potential upside.
Personal favorite Keppel Corp the conglomerate consolidated and gapped up into a range. This one has a potential of 12-20% upside after breaking resistance. Had marked an early entry when it previously gapped up over the previous downside target.
The Singapore stock are lighting up with a Monday morning fireworks display. It needs to follow through to be sustainable, and current tailwinds are encouraging… please do watch these and other favorites, do your due diligence and decide for yourself if it works for you or not. Remember volatility is the order of 2019.
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