Home Asia Singapore: STI Index (.STI) expected to open higher

Singapore: STI Index (.STI) expected to open higher


Singapore: STI Index (.STI) expected to open higher

Singapore stocks closed higher on Thursday, with the benchmark Straits Times Index (STI) going up 0.38 percent, or 12.82 points, to close at 3,381.26.

A total of 1.18 billion shares changed hands with a turnover of 1.05 billion Singapore dollars (about 732.44 million U.S. dollars). Gainers outnumbered losers by 215 to 212.

The STI index went down on Wednesday, with the benchmark Straits Times Index (STI) going down 0.14 percent, or 4.69 points, to close at 3,368.44 Wednesday.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 3,293.03.

The projected upper bound is: 3,436.49.

The projected lower bound is: 3,332.53.

The projected closing price is: 3,384.51.


A white body occurred (because prices closed higher 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 32 white candles and 17 black candles for a net of 15 white 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 72.7098. This is not an overbought or oversold reading. The last signal was a sell 3 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 63.96. 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 sell 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 144.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 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 sell 12 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed up 12.820 at 3,381.260. Volume was 23% above average (neutral) and Bollinger Bands were 64% narrower than normal.

Open     High      Low     Close     Volume___
3,373.7303,386.2803,368.6903,381.260 258,371,728
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 3,364.93 3,269.08 3,198.17
Volatility: 7 10 14
Volume: 191,264,272 206,029,216 212,406,576

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 5.7% above 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 moderate flows of volume into .STI (mildly bullish). Our trend forecasting oscillators are currently bullish on .STI and have had this outlook for the last 27 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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