Singapore: STI Index (.STI) stocks close 0.22 pct lower

Singapore: STI Index (.STI) stocks close 0.22 pct lower

Singapore stocks closed lower on Monday, with the benchmark Straits Times Index (STI) going down 0.22 percent, or 7.03 points, to close at 3,213.00.

A total of 1.61 billion shares changed hands with a turnover of 945.6 million Singapore dollars (about 680.6 million U.S. dollars). Losers outnumbered gainers by 205 to 182.

The STI index went down 0.06 points to close at 3,220.03 on Friday.

Technical Indicators

Overall, the bias in prices is: Sideways.

By the way, prices are vulnerable to a correction towards 3,204.12.

The projected upper bound is: 3,275.95.

The projected lower bound is: 3,151.38.

The projected closing price is: 3,213.66.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 25 white candles and 22 black candles for a net of 3 white candles.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with STRAITS TIMES), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 81.5899. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 50.99. 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 9 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 83. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed down -7.030 at 3,213.000. Volume was 21% below average (neutral) and Bollinger Bands were 25% wider than normal.

Open     High      Low     Close     Volume___
3,220.6603,223.4303,210.0003,213.000 192,026,304
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 3,198.49 3,217.71 3,210.30
Volatility: 18 12 12
Volume: 252,189,968 211,666,928 227,317,776

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.

Summary

STRAITS TIMES is currently 0.1% above its 200-period moving average and is in an downward trend. Volatility is high 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 14 periods.

#shayne heffernan#Singapore#Singapore market#singapore technical analysis#sti#sti forecast#STI Index#sti market price#sti technical analysis#trading