DJI has been moving up for three consecutive days, look like it may take a breather on next week. It will not be surprising if DJI start moving down on Friday. As for Singapore market, it may follow.
Today, quite a number of penny stocks have closed lower due to profit taking and black candle is formed, meaning they may move further down on tomorrow. As tomorrow is Friday, there may be more profit taking going on at the second half of the day.
As for overall market outlook, with share prices start to move up and overall transaction volume has been increasing, it looks promising. If STI is able to find its support level at its 20d EMA again, I think that will be a good time to start collecting stocks which have good fundamental.
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