I am preparing some trades for next week and hence I am scanning some right counters to trade. Below are the analysis of 3 counters I have identified.
OCBC - The short term is bearish. I expect the stock to rise a little more towards the supply zone, maybe 9.06-9.16 before the real sellers will emerge. The now in my opinion contains a lot of sellers and I am definitely not looking to long.
Wilmar - Shorted 3.47 last week and was under pressure. I might take a loss and add on more positions at 3.61-3.64 level because that's where the supply zone exist. The stock had a bullish rise recently and my judgement was wrong earlier when I shorted.
Global Logistic - With positive news in the background, I believe the stock is set for a rise. However in the short term wise, it might be still forming a small trading range before the breakout happens. I am watching this counter closely for that hidden buying or a flush to happen first. I strongly believe a major news is impending.
Have a great weekend.
Ronald K - Market Psychologist - A Stock Market Opportunist
