Singapore: STI Index (.STI) Looks Set to Rise at Open
Singapore shares climbed higher on Thursday morning, tracking a largely positive session on Wall Street overnight.
US stocks rose modestly on Wednesday following a mixed round of earnings, that lifted US industrial bellwethers Boeing and Caterpillar despite earnings misses, but pummelled semiconductor shares. The Dow and the Nasdaq added 0.2 per cent each, while the S&P 500 gained 0.3 per cent.
On the Singapore bourse, gainers outnumbered losers 65 to 31, after about 34.6 million shares worth S$55.5 million changed hands.
Among the most heavily traded by volume, Rex International was up 2.1 per cent, or 0.2 Singapore cent to 9.7 cents, with 12.3 million shares traded, while Singtel rose 1.2 per cent, or four cents to S$3.27 with 3.2 million shares traded.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 3,227.98.
The projected lower bound is: 3,111.47.
The projected closing price is: 3,169.73.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.5551. This is not an overbought or oversold reading. The last signal was a sell 5 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 58.28. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 39 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 156.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed up 24.590 at 3,168.870. Volume was 10% above average (neutral) and Bollinger Bands were 49% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,134.26 3,128.86 3,224.53
Volatility: 10 12 12
Volume: 204,073,808 212,054,464 213,428,144
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
STRAITS TIMES is currently 1.7% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .STI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .STI and have had this outlook for the last 13 periods.