SGX is staying strong with price moving upwards despite the overall market selling. There is no news yet but from the chart there was a base building and the stock broke out of the base. The chart doesn't look convincing but well, the stock still broke out. Is it ready to move higher with buyers moving up the price, I would trade cautiously on this counter because it's pretty choppy as you can see from the 5 minute chart. I think the market is reacting to HSI and the Dow yesterday since it was close. Once today is over, we shall have a clearer view of the market direction.
Ronald K - Market Psychologist - A Stock Market Opportunist
