Singapore: STI Index (.STI) caution over potential US-China trade deal
Singapore stocks ended higher on the last trading day of the week, with the Straits Times Index gaining one per cent, or 29.07 points, to 3,083.6 on Friday’s close.
The field was roughly evenly matched, with 181 gainers to 193 losers, as some 850.4 million shares worth S$858.1 million in total changed hands.
The most actively traded counter was Nam Cheong with 27.99 million shares changing hands, falling 18.18 per cent or 0.2 Singapore cent to 0.9 Singapore cent. Other actives included Genting Singapore and Singtel.
Among active index stocks, ComfortDelGro gained 0.94 per cent, up two Singapore cents to S$2.16, while DBS Bank finished 0.73 per cent, or 17 Singapore cents higher to S$23.32.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 3,164.80.
The projected lower bound is: 2,999.83.
The projected closing price is: 3,082.32.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 24 white candles and 25 black candles for a net of 1 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 51.8015. This is not an overbought or oversold reading. The last signal was a sell 7 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 51.35. 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 11 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 60. This is not a topping or bottoming area. The last signal was a sell 8 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 10 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed up 29.070 at 3,083.600. Volume was 14% below average (neutral) and Bollinger Bands were 16% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,071.67 3,115.67 3,329.28
Volatility: 18 17 16
Volume: 232,540,208 233,602,928 246,728,736
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 7.4% below 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 25 periods.