Singapore: STI Index (.STI) resumed trading essentially flat
Singapore stocks resumed trading essentially flat on Thursday after the midday lunch break, with the Straits Times Index shedding 0.27 of a point, or 0.01 per cent to 3,176.3.
Losers outnumbered gainers 178 to 125, as some 805.3 million shares worth S$435.8 million in total changed hands.
The most actively traded counter was Rex International with 26.3 million shares traded, down 0.93 per cent to 10.7 Singapore cents. Other actives included Ezion with 25.13 million units traded, flat at 7.2 Singapore cents, and KrisEnergy with 21.12 million shares changing hands, up 2.89 per cent to 10.7 Singapore cents.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 3,239.98.
The projected upper bound is: 3,246.88.
The projected lower bound is: 3,111.23.
The projected closing price is: 3,179.06.
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 21 white candles and 27 black candles for a net of 6 black candles.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
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 81.7827. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 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 48.28. 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 6 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 75. This is not a topping or bottoming area. The last signal was a buy 6 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 2 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed up 3.860 at 3,180.430. Volume was 31% below average (neutral) and Bollinger Bands were 1% wider 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: 3,142.08 3,235.00 3,405.04
Volatility: 11 13 15
Volume: 200,326,320 220,371,936 241,476,768
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.
STRAITS TIMES is currently 6.6% below its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 bearish on .STI and have had this outlook for the last 23 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
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