Singapore: STI Index (.STI) may slide at opening bell
The Straits Times Index (STI) ended 13.26 points or 0.4% lower at 3326.74, taking the year-to-date performance to -2.24%.
The top active stocks were DBS, which declined 2.95%, OCBC Bank, which declined 0.42%, YZJ Shipbldg SGD, which gained 8.79%, UOB, which gained 1.14% and CapitaLand, with a 1.23% advance.
The FTSE ST Mid Cap Index gained 0.29%, whilst the FTSE ST Small Cap Index declined 0.47%.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 3,398.14.
The projected lower bound is: 3,251.28.
The projected closing price is: 3,324.71.
Candlesticks
During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 21 white candles and 27 black candles for a net of 6 black candles.
A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).
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 79.8249. 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 54.59. 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 23 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 70. This is not a topping or bottoming area. The last signal was a sell 8 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 26 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed unchanged at 3,326.740. Volume was 100% below average (consolidating) and Bollinger Bands were 30% narrower than normal.
Open High Low Close Volume___
3,326.7403,326.7403,326.7403,326.740 0
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,311.18 3,313.23 3,436.53
Volatility: 15 14 14
Volume: 210,187,520 246,530,448 240,876,768
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 3.2% below 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 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 14 periods.
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