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Friday, January 18, 2013

Friday Indicator

Final day of the week again! STI continue its sideway consolidation this week in the range of 3221-3161, the major uptrend is still intact, resume its upward move is expected after this round of consolidation.

My Friday indicator levels for STI to watch today:

61.8%: 3198
50%: 3191
38.3%: 3184

The range is tight, a close above 50% level at 3191 would indicate bullish bias for STI in coming week.
I continue look good on Midas, ChinaMZ and Wilmar.

Bullish set-ups:

Breadtalk
Broadway
CapitaRchina
Jaya

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