Market Updates + Venture warning (Bearish)
- Apr 4, 2018
- 1 min read
Been busy recently with work and other stuffs and resting from losses in hi-p entered 2.65 and cut 2.5 too.
Those in our group would have know that we took profit of SMM at 2.14 today and also cut singpost at 1.32 (entry 1.35). We also exited DBS at the 29 zone with profits and sold breadtalk with small profits.
Today we started to put on our bear caps as major market leaders in Sg and even in US ( FANGS) broke down one by one. Currently we are in bear mode and would advise against longing,unless for a quick rebound or if an uptrend is established.
We took short positions on tech stocks like valuetronics and sunningdale previously but covered valuetronics at 1 today zzz.
However the highlight for this post would be on Venture. In our opinion, venture has most likely peaked , with a break below the ascending triangle. We took short positions at 27.7.
Our live calls:
In our opinion, venture could head to 23-24 for the next stop.
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