Bullish - STi has been trading on the uptrend since Feb 2010 and is still trading healthily above 50 MA line. Support at 2952 and resistance at 2987 for further upside.
As in my earlier blog, it has been testing 3,000 mark. With the recent "noises" from reports, news etc, market adopted a knee-jerk reaction and traded dangerously below the STI support on 28 April due to panic selling. Result, weak hands sold cheap shares to strong hands and they are laughing to bank now with 5% or more returns within 2 days..
Another episode of Dubai and euro crisis. Meanwhile these are being swept under the carpet, adopt a cautious and calm mindset based on buying low and selling high methodology in trading. The boy who cried wolf..2 times were false alarm but the 3rd..
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