STI Index has been trading within the range of 3195-3350. Could it have a firm breakout above this range? The current technical indicators looks overextended and I believe we may be poised for a pullback towards 3300 before a possible move higher.
Most blue chip counters already had a nice run coming into the result season. Could we see another similar scenario like last quarter where stocks ran into the earnings season and sold down on news? In my opinion, that is very likely.
My strategy as of now? Take profit off cyclical counters ($OCBC Bank(O39.SI), $DBS(D05.SI), $CapitaLand(C31.SI), $Keppel Corp(BN4.SI)O and focus on laggard stocks that have has been underappreciated ($ST Engineering(S63.SI), $SingTel(Z74.SI)).
Any thoughts? Would love to hear from the community.