It’s been a pretty busy week, but I’m back with an update on the market! I’m using my nights out time to write this post so let’s not waste any more time! Let’s jump straight in!
Referring back to STI Outlook: 19 Apr 2015, I mentioned STI was likely to take a breather again, and it sure did. Now it’s back at the support trendline and we have seen the first sign of bounce and I’m expecting continuation of the uptrend. Now that the higher low has been formed, what awaits us is to see if a higher high will be formed to continue the uptrend.
On Cosco, again, bad call on my part. Stop loss seem to always have been set too tight (?) I did miss out the the potential bull flag which broke out. Price once again, hit my stop loss before arriving at my target of 0.535.
UMS & CitySpring
So CitySpring has been doing rather well lately and I’m really satisfied with the progress it is going at right now. However, I’m a little disappointed with UMS since after the dividend of $0.03, share price has been showing some form of weakness. However, it also presents itself an opportunity for me to load up more shares of UMS. Still need another 2-3 days before I can confirm whether I should add my position or not.
Will be away for almost a whole month without much ability to watch the stock market so I’m currently quite against the idea of adding position. Will update more when I have the time again!