Singapore: STI Index (.STI) Earnings season kicks off

Singapore: STI Index (.STI) Earnings season kicks off

Singapore: STI Index (.STI) Earnings season kicks off

For the 2018 year through to Oct 18, the Straits Times Index (STI) has generated a 6.7 per cent decline in total return, amid regional mixed moves that have ranged from a 4.9 per cent total return for the Nikkei 225 Index to a 25.2 per cent decline for China’s CSI 300 Index.

For the five trading sessions ended Oct 18, the STI gained 0.7 per cent, with regional benchmarks comprising the Nikkei 225 Index, Hang Seng Index and S&P/ASX 200 Index averaging a one per cent gain.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 3,178.80.

The projected upper bound is: 3,131.42.

The projected lower bound is: 2,983.03.

The projected closing price is: 3,057.23.

Candlesticks

A white body occurred (because prices closed higher 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 20 white candles and 29 black candles for a net of 9 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 64.4635. This is not an overbought or oversold reading. The last signal was a buy 1 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 34.81. 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 2 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 -65. This is not a topping or bottoming area. The last signal was a buy 2 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 sell 9 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed down -7.160 at 3,062.510. Volume was 25% above average (neutral) and Bollinger Bands were 77% wider than normal.

Open High Low Close Volume___
3,046.8703,073.2103,046.7003,062.510 291,172,608

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 3,087.97 3,181.73 3,376.28
Volatility: 19 15 15
Volume: 266,626,112 232,854,768 248,234,000

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 9.3% 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 6 periods.

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