DBS
UOB
Otto Marine
NOL
The 3 Singapore banks and NOL are the STI index component that are laggards inside this rally. Technical indicators are showing weakness for the banks and are at a crucial support point and if broken , they will drop quite a lot to their next support price. However , I got a theory whereby these 3 bank will rise soon in the near future as if the other stocks that rise most prob will drop or maintain and these 3 bank , which takes quite a huge % of the STI index. This will mean that if next round of rally/correction come , they will be the one supporting the rally/correction while the rest maintain or take minor correction.
As for NOL , operating numbers are quite good but price didn't react to it means that it had been priced in. Another reason is that Analyst predict that the next quarter wont be good. However , i feel that NOL is in pretty good position and might catch up with the others.
As for otto marine, my average price was 0.404 and i queue 0.355 but didnt get it and it rise close to 10% , almost breaking even my entry price. I am bullish about otto marine as it burst through the mid term down trend line with huge volume. Stochastic and MACD sharply shoot up but still have room to go up more!!
my target price will be at least 0.435.
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