Singapore: STI Index (.STI) Consolidating

Singapore: STI Index (.STI) Consolidating

Singapore: STI Index (.STI) Consolidating

Singapore stocks opened higher on Monday, with the Straits Times Index rising 0.27 per cent or 8.82 points to 3,265.87.

Gainers outnumbered losers 86 to 45, or about two securities up for every one down, after 55.4 million securities worth S$86.4 million changed hands.

Among the most heavily traded by volume, Golden Agri-Resources stayed flat at S$0.25 with 10.1 million shares traded. Rex International Holding headed up 1.9 per cent or S$0.002 to S$0.11 with 4.3 million shares traded.

Active index securities included Singtel, up 0.9 per cent or S$0.03 to S$3.27; and Hutchison Port Holdings Trust, up 2.0 per cent or S$0.005 to S$0.255.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 3,321.80.

The projected lower bound is: 3,187.42.

The projected closing price is: 3,254.61.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 21 white candles and 27 black candles for a net of 6 black candles.

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 68.6875. This is not an overbought or oversold reading. The last signal was a sell 2 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 62.35. 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 13 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 92. 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 9 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed down -1.590 at 3,255.460. Volume was 32% below average (neutral) and Bollinger Bands were 9% wider than normal.

Open High Low Close Volume___
3,262.4303,268.4903,246.7903,255.460 168,933,568

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 3,215.71 3,232.18 3,398.01
Volatility: 9 13 15
Volume: 219,440,464 223,005,696 243,184,832

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 4.2% below its 200-period moving average and is in an upward 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 bullish on .STI and have had this outlook for the last 4 periods.

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