Friday, 21 June 2013

MARKET OUTLOOK WEEKEND RECAP

It has been a volatile week for stock markets around the world. The Straits Times Index finish the trading session with a loss of 8.81points to 3124. For the week, the STI tumble 37points or 1.1% from 3161(Last closing 14 June 2013). At current levels, the STI still has found a strong support at 3100 and next week should be a great trading opportunity.

Straits Times Index 3124.45 (-8.81 or -0.28%)


SgxWinner has identified 1 great potential penny stock trading with great potential to rally further next week. As seen in the charts below, ChinaFibreTech has been forming 3 bullish white candlesticks on 3 consecutive days. It has been trading higher despite the overall negative market sentiment. ChinaFibreTech look set to test it all time high resistance of $0.063 seen in 14 February 2012. Once this level is breached, the rally will continue further towards 10cents at a later stage.


ChinaFibreTech $0.054 (+0.005 or + 10.20%)

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