The markets have been a bit of a coin toss recently with price stuck in a tight range.

We fared decently well with a few big winners, easily covering the few small losers.

Next we need to observe what STI does at the 3270 levels.

Will we get capped or break and fly higher?

In our scan today, one of the results looked interesting, Genting!

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STI

We are finding some reaction of the 3200 level.

There was a reaction to the 3250 level in the last swings, so we will see if that breaks or holds.

If it breaks then we’re looking at the 3270 level for a reaction.

STI breaks above 3250

Wilmar

Following the rules, we’re still in this.

The next level to watch if we break under the previous lows, would be around the $3.00 and $2.80 areas.

Be patient and follow system.

Wilmar be patient and follow system

Sembcorp Ind

We haven’t triggered an exit yet, but it doesn’t look so good for 2 reasons.

1) The characteristic of this counter has become more overlapping again.

2) Price did try to drop under the $2.90 level, however failed to hold under it.

Be patient and follow system for the moment, be vigilant because this could trigger an exit soon.

Doesn’t help that its sister Sembcorp Marine is running up higher.

Sembcorp Ind not looking good

Mandarin Oriental

As mentioned in the previous post here, we have decided to exit if previous candle low gets broken.

The previous candle low hasn’t broken, so by following the system, it has kept us in the trade till now.

Price is again above our average entry level around $2.075 trading now around the $2.20+ area

I believe we will get an exit signal soon, so you can scale out or just call it quits on this trade anytime.

It’s still a good profit.

Note how each day’s candle is getting smaller and smaller, a sign that bulls are tired.

Mandarin Oriental should be getting us out soon.

MM2

The bullish momentum didn’t really kick in and it is turning down now.

Be patient and follow system.

It’s not good if we close under $0.50, we are looking to exit this position.

MM2 bullish momentum disappears

Genting

Beginning to look interesting again.

Price has been in an up trend for a year.

Recently since June it has done a bit of a consolidation with higher lows being formed.

More frequent dividends paid out as well.

No signals yet, so we need to be patient and wait.

Ready to roll the dice at Genting?

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Good trading folks!

The post 2nd October STI Market Update: Ready To Roll Dice At Genting? appeared first on The Systematic Trader | Trading Courses | Collin Seow.