Singapore: STI Index (.STI) now the most innovative country outside of Europe
Singapore has moved up two notches to be the fifth most innovative country amongst 126 nations in the Global Innovation Index (GII) 2018 report.
Retaining its top spot as the most innovative country in Asia, the Republic is ranked just behind European innovation powerhouses Switzerland, the Netherlands, Sweden and the United Kingdom.
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 3,370.39.
The projected upper bound is: 3,317.20.
The projected lower bound is: 3,166.31.
The projected closing price is: 3,241.76.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 20 white candles and 28 black candles for a net of 8 black candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 78.1104. This is not an overbought or oversold reading. The last signal was a buy 11 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 39.84. 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 -42. This is not a topping or bottoming area. The last signal was a buy 1 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 buy 5 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed down -25.750 at 3,249.080. Volume was 7% above average (neutral) and Bollinger Bands were 16% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,244.73 3,412.01 3,438.67
Volatility: 18 14 14
Volume: 272,769,312 273,497,504 239,199,744
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 5.5% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume out of .STI (mildly bearish). Our trend forecasting oscillators are currently bearish on .STI and have had this outlook for the last 35 periods.
Latest posts by HEFFX Australia (see all)
- Japanese Yen: USD/JPY (JPY=X) Appreciation is Risk - July 17, 2018
- Singapore: STI Index (.STI) A key focus now: how firms are weathering trade disputes - July 17, 2018
- GOLD 1 OZ (XAU=X) Prices Declining - July 17, 2018