The US markets declined pretty sharply on 13th December last year but 2 weeks later it hit into a longer term support and started to rebound (just as sharply). Right now while it is stil lbelow the 200 days moving average, the chance of it recovering above the 200 days MA is looking pretty plausible
Note:
When prices are above 200 days Moving Average (market is biased toward bullishness)
When prices are below 200 days Moving Average (market is biased towards bearishness)
Our Straits Times Index (STI) has been on the decline since it peaked on 2/5/18, finally hitting bottom at the start of this year. Due to the long 8 months of sluggish markets, many of the stocks are now looking good for some uspide with bullish reversal patterns.
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| Straits Times Index |
Examples of some charts with bullish reversal patterns (ie odds of the chart sustaining further upside is high).
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| City Development |
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| Frasers Property |
Venture Corp
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| SATS |
Disclaimer: remember that while the odds are high for a stock with bullish reversal pattern to be profitable, it is not guaranteed. A stop loss is still necessary should the trade not work out.
There are a lot more bullish looking stocks now. Good luck!
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