Singapore: STI Index (.STI) investors remain cautious
Most Southeast Asian stock markets ended lower on Monday, as investors remained cautious after the region’s biggest trading partner China posted disappointing economic data on Friday, while dismal regional data added to woes.
On the upside, the Singapore benchmark index bucked the weak trend to close 1.2% higher, as investors shrugged off worse-than-expected November export data and went bargain hunting after Friday’s losses.
“It looks like bargain-hunting, as valuations are at attractive levels,” said Joel Ng, an analyst at KGI Securities, pointing to a 20-30% fall in Singaporean stocks over the past six months.
Earlier in the day, data showed that the country’s exports fell for the first time in eight months on a year-on-year basis in November, with shipments to China, its biggest market, continuing their slowdown.
Meanwhile, the Indonesia index closed 1.3% lower, extending losses, after the country posted its widest monthly trade deficit in over five years in November.
Southeast Asia’s largest economy saw exports of palm oil and pulp slump, while November imports stood at US$16.88 billion, up 11.68% from a year earlier.
Overall, the bias in prices is: Sideways
The projected upper bound is: 3,204.59.
The projected lower bound is: 3,020.09.
The projected closing price is: 3,112.34.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 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 59.0275. This is not an overbought or oversold reading. The last signal was a buy 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 52.95. 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 32 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 -11. 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 sell 4 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed up 37.160 at 3,114.250. Volume was 13% below average (neutral) and Bollinger Bands were 13% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,108.45 3,075.11 3,290.52
Volatility: 17 19 16
Volume: 196,264,016 230,967,392 237,074,304
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 5.4% below its 200-period moving average and is in an upward trend. Volatility is high 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 17 periods.