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If we have been investing in Singapore equities long enough, we would be familiar with the talk that August is a seasonally weak month.
Of course, there is always some hope for a National Day Rally.
What about AK?
If there is a correction, and if prices hit my target buy prices, I might buy some.
Usually, Q3 is pretty good in terms of passive income received from my investment portfolio.
So, I should be able to take advantage of any market weakness in August.
My plan is still to add to my investments in DBS, OCBC and UOB so that, together, they form 40% of my portfolio.
Looking at the charts, I see the following supports which could be tested in case of a correction.
DBS.
At what seems to be a neckline at $31.87 per share and if that were to break, we could see $30.00 per share again.
With DBS common stock's rich premium to valuation, I am not in a hurry to increase my investment in DBS.
OCBC.
We could see a gap covering at $12.45 a share and this is also where many moving averages are bunching up which should provide a strong support.
If this were to break, we could see a pessimistic Mr. Market selling down to the next gap at $12.20 per share.
I would probably buy some if that should happen.
UOB.
We could see $28.00 per share again, give or take few cents.
If that were to break, we could see the share price going a lot closer to $27.00 a share.
That is where I might buy some if it should happen.
I would not go in with all guns blazing in case there should be extreme pessimism in the market for some reason.
With limited resources and with Q4 being usually a weak month for me in terms of dividends, it is better for me to err on the side of caution.
Before I sign off, if you do not follow my YouTube channel, I produced a new video today and you might be interested in watching or listening to it.
If AK can do it, so can you!
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