Singapore: STI Index (.STI) Bbusiness confidence for the last quarter dropped to close to a two year-low

Singapore: STI Index (.STI) Bbusiness confidence for the last quarter dropped to close to a two year-low

Singapore: STI Index (.STI) Bbusiness confidence for the last quarter dropped to close to a two year-low

Business confidence for the last quarter has dropped to close to a two year-low, as Singapore’s key manufacturing and wholesale trade sectors brace for a downturn.

Business sentiment has dipped to +4.82 percentage points for 4Q19, from +6.91 percentage points for the current quarter, according to data from the Business Optimism Index released recently by the Singapore Commercial Credit Bureau (SCCB).

On a year-on-year basis, business confidence has nearly halved from the +9.19 percentage points in 4Q18.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 3,201.81.

The projected lower bound is: 3,076.38.

The projected closing price is: 3,139.10.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 4.2814. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 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 44.54. 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 16 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 -61. This is not a topping or bottoming area. The last signal was a sell 4 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 16 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed down -16.440 at 3,143.240. Volume was 39% below average (neutral) and Bollinger Bands were 13% narrower than normal.

Open     High      Low     Close     Volume___
3,155.7703,162.2603,141.4103,143.240 132,708,304
Technical Outlook 
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 3,178.22 3,206.89 3,218.42
Volatility: 12 12 13
Volume: 203,686,976 222,543,408 210,414,528

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 2.3% below its 200-period moving average and is in an upward trend. Volatility is low 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 bullish on .STI and have had this outlook for the last 7 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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