Singapore: STI Index (.STI) resh threats from United States President Donald Trump to widen the scope of tariffs

Singapore: STI Index (.STI) resh threats from United States President Donald Trump to widen the scope of tariffs

Singapore: STI Index (.STI) resh threats from United States President Donald Trump to widen the scope of tariffs

Local shares snapped four days of gains yesterday after fresh threats from United States President Donald Trump to widen the scope of tariffs on Chinese imports spooked investors.

The cautious mood sent the Straits Times Index (STI) down 2.98 points, or 0.1 per cent, to 3,090.40, with losers beating gainers 192 to 185 on trade of about 1.83 billion shares worth $1.04 billion.

Most other regional markets showed more resilience. Japan’s Topix, propped up by financials and telecoms stocks, rose 0.7 per cent. Australia’s benchmark ASX 200 was up 1 per cent, from a likely boost by oil price gains.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 3,177.97.

The projected lower bound is: 3,009.19.

The projected closing price is: 3,093.58.

Candlesticks

A black body occurred (because prices closed lower 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 23 white candles and 26 black candles for a net of 3 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

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 89.6260. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 15 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 54.54. 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 19 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 111.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 4 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 18 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed up 4.080 at 3,094.480. Volume was 3% above average (neutral) and Bollinger Bands were 48% narrower than normal.

Open High Low Close Volume___
3,101.1003,101.1803,078.9303,094.480 233,671,904

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 3,064.10 3,104.45 3,315.46
Volatility: 13 17 16
Volume: 185,492,272 229,612,784 241,742,224

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 6.7% 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 4 periods.

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