Sheng Siong (OV8.SI) — Re-accumulation Developing Sheng Siong (OV8.SI) has emerged as a potential markup candidate, following a strong breakout in May. Since then, price action has entered a well-defined consolidation just below the SGD 1.88 resistance level. The chart structure suggests a classic reaccumulation phase following the initial breakout. Price remains supported above SGD 1.80 , with a tight range suggesting controlled selling and possible institutional absorption. Volume has remained stable, while the Fund Flow Indicator (FFI) continues to trend positively — indicating underlying interest remains intact. Notably, relative strength vs. the Straits Times Index (STI) continues to hold above breakout levels, reinforcing the case for continued outperformance in a sideways-to-soft market environment. Should Sheng Siong break above SGD 1.88 with volume confirmation, upside targets are projected at SGD 1.96 and SGD 2.05 , marking the next leg of a potential markup p...
Week Ahead: Markets Trade Sideways as Investors Digest U.S.-China Trade Talks and Middle East Tensions
bMiddle East tensions are expected to continue dominating headlines next week, while the U.S. FOMC rate decision will also be closely watched. Medium Term: S&P 500 (SPX): The S&P 500 could hover in the near term amid heightened Middle East tensions. Key support levels to monitor are 5,900, followed by 5,780. Consider short-term range strategies between 5,900 and 6,030, with tight stops below 5,780. Hang Seng Index (HSI): The Hang Seng Index (HSI) tested the 24,200 resistance level. In the absence of strong demand signals, the index is expected to trade sideways in the week ahead. We will continue to monitor for demand or supply signals to confirm the next trend direction. Traders could take up LONG trades near support zone. Straits Times Index (STI): The Straits Times Index (STI) is testing its 3,900 support level. We expect a sideways trend in the upcoming week, while closely monitoring demand and supply price action for confirmation of the next directional m...