The 3 local banks have seen some selling in recent weeks as the market weakened.😢

 

In fact, we have headed to some of those 𝐤𝐞𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐥𝐞𝐯𝐞𝐥𝐬 and a good rebound seen again.

 

So where can we potentially head to from here?

 

Is the worst really over?

 

 

Joey here, Top Tier Remisier in Phillip Securities.

 

Well, a 𝐫𝐞𝐛𝐨𝐮𝐧𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐡𝐨𝐫𝐭 𝐭𝐞𝐫𝐦 may be possible from the key supports that has been holding over the past 5 months..

 

That was what we have experienced previously also..

 

But the thing is,

 

You want to take note of where 𝐩𝐫𝐨𝐟𝐢𝐭 𝐭𝐚𝐤𝐢𝐧𝐠 𝐜𝐚𝐧 𝐫𝐞𝐭𝐮𝐫𝐧!

 

WHY?

 

Because as mentioned all along, the 𝐥𝐨𝐧𝐠𝐞𝐫 𝐭𝐞𝐫𝐦 𝐝𝐨𝐰𝐧𝐭𝐫𝐞𝐧𝐝 may still be intact for now in the SG banks so it will be good to lock in some gains on any rebound too.

 

Watch all the way to the end to see where we can potentially head to before more selling.

 

>> https://youtu.be/HscDqtkfOJA