Thoughts on Week Ahead 13 Feb 2023: Analysts Recommendation Revision, next market driver?

Thoughts on Week Ahead:

Week 13 Feb 23

Analysts Recommendation Revision, next market driver?

Market Recap

Markets experienced a volatile week, S&P500 -1.11%, HSI -2.17%, due to uncertainty surrounding US FED interest rate policy. Dollar Index +0.57% spiked, causing a sell-off in some markets. Despite the selloffs and news headlines, market expectations for Fed fund futures remained at 5.25% for 2023.

Outlook for the Week Ahead

Volatility is expected to persist, particularly in HK and China. Meanwhile, US and SG markets are likely to experience sideways trading. DBS' results on Monday could set the direction for STI.

Analysts could revise their target prices and ratings, following a year of downgrades, as China reopening is expected to have a ripple effect on more industries and markets.

Weekly Investment Strategy

We see recent market correction as an opportunity to pick up quality names in the market. As long as markets do not breach key support levels, we are using this sell-off as a buying opportunity.

Following is link to stocks' Year to date performance for SG,HK and US markets. Overall investors seems picking up tech, travel related and consumer discretionary sectors. Likely rational, valuations becomes more reasonable and China reopen theme.

https://docs.google.com/spreadsheets/d/1ND3f5ZZyph6O_tM9sTaT4hI8ukTpoqdu/edit?usp=sharing&ouid=101538497175344321065&rtpof=true&sd=true

Blog disclaimer applies

Palantir Technologies Inc PLTR: Technical Rebound at Sight After US Broad Market Stabilises

Palantir Technologies Inc. (PLTR) USD86.24 Palantir (PLTR) posted a bullish reversal, closing above the 13-day SMA (83.56) with significant volume expansion. This signals potential momentum strength in the near term. First key resistance zone between the 50% and 61.8% Fibonacci retracement levels (USD 99.85 – 105.79), which could present selling pressure. Disclaimers apply

DBS Group Holdings (D05) and Straits Times Index (STI): Technical Change of Momentum

DBS Group Holdings (D05) and Straits Times Index (STI): Technical Change of Momentum Recent price developments in DBS Group Holdings (SGX: D05) and the Straits Times Index (STI) signal a critical inflection point. Both instruments have breached established ascending trendlines, suggesting a potential reassessment in investor sentiment and market trajectory. DBS Group Holdings (D05) Price Dynamics: DBS has decisively broken below its ascending trendline, closing at SGD 44.23, registering a 3.53% decline. The price action underscores weakening upward momentum and raises the probability of an extended correction phase. Key Technical Levels: 38.2% Fibonacci retracement: SGD 41.45 50% Fibonacci retracement: SGD 39.78 61.8% Fibonacci retracement: SGD 38.12 Full retracement: SGD 32.72 Outlook: The breach beneath the trendline suggests an erosion of bullish conviction. Immediate attention should be on the 38.2% retracement le...

Week Ahead: US Indices Momemtum in Question

Week Ahead: 10 March 2025 Key event this week was U.S. indices technically closed below the key 30-week (or 150-day) moving average . For the upward trend to continue, the indices need to reclaim levels above the moving averages. Remaining below the 30-week (or 150-day) moving average could indicate that the upward trend has reversed downward. However, in the short term, we expect a rebound as the indices trade near their respective support levels. Medium Term: S&P 500 (SPX): The S&P 500 broke below its key upward trendline, which had been established since October 2023. In the longer term, we expect the index to trade sideways or move in a downward direction. In the short term, we anticipate the S&P 500 will find support at the 5,700 level and could rebound to test the 5,860 and then the 5,966 resistance zones. Straits Times Index (STI): The technical trend remains bullish. We maintain a constructive outlook while staying vigilant for any sig...

Market Technician

Search This Blog