STI opened 50 points above, this forms a nice weekly hammer candle. Yet it is still early to celebrate for the week has not ended yet.
Now assuming it closes high as a nice hammer, it should rally for 1 or 2 more weeks. Otherwise, it may continue to consolidate. Will it hold? This is something to observe and not a simply a yes or no question. Personally, i see that for the rally to hold it should not break 3050. Resistance will be at 3100
The 4th telco got delayed again. that somewhat boost telcos shares today.
Banking stocks continue to move lower and lower. Good for waiting and buying at strategic prices with spare money. Yet as mentioned in my previous email, the focus will not be in banks next year. It does not mean banks shares will not rally. But probably not as fast as before relatively. Will share more in my year end note.
my 2 cents.
Singapore Stocks to Watch
* EC World REIT Unit (ECWREIT SP): Gets Right Of First Refusal On Asset For Rmb702.5M
* First REIT (FIRT SP): Third Quarter Distribution Per Unit S$0.0215; Upgraded To Add At Cimb; Pt S$1.36
* Keppel DC REIT (KDCREIT SP): Third Quarter Distribution Per Unit S$0.0185
* Keppel Infrastructure Trust (KIT SP): Confirms Participation In Sale Process For Ixom
* Noble Group (NOBL SP): Plans Creditors Meetings Nov. 8; Starts Exchange Offer
* UOB (UOB SP): Is Said To Hire Banks For 2B Yuan 3Y Panda Bond Issue
