3 bue chips and 1 REIT

Saizen REIT: Still trading sideways.  MFI has moved into oversold territory.  The quarterly report will be released tomorrow in the morning before trading starts.  Volume is very thin today as if everyone is waiting for the report before deciding on what to do next.

F&N:  Uptick in the MFI pushed the index out of oversold territory as the terribly oversold counter seems to have attracted some buyers.  Price action formed an inverted black hammer on respectable volume and has moved away from the lower limits of the Bollinger bands.  If this continues, the correction is over and we might see some consolidation.  Initial resistance is provided by a rising 200dMA at $3.83 followed by the 100dMA at $3.92.

Keppel Corp: MFI continues to rise and seems determined to form a higher high.  This is a positive as it signals the return of some buying momentum.  That the black candle day is accompanied by reduced volume today is also a positive.  As of now, the counter's uptrend is stil intact.

SPH:  A low volume day as price almost formed a white hammer.  MFI has turned up.  Let us see if the symmetrical triangle I talked about yesterday will deliver good news in time.

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