Singapore: STI Index (.STI) risk-on sentiment continues
Risk-on sentiment continued to have considerable influence during Friday’s session in Asia thanks to investors’ hopes of a de-escalation in the trade dispute between the US and China.
That said, Singapore’s Straits Times Index (STI) slipped into the red late in the session, bucking the regional trend on Friday, to end the week at 3,144.48, down 2.58 points or 0.1 per cent.
The blue-chip index added 37.96 points or 1.2 per cent from last Friday’s close of 3,106.52.
Elsewhere in the Asia-Pacific, key markets Australia, China, Hong Kong, Japan, Malaysia and South Korea all finished higher.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 3,185.55.
The projected upper bound is: 3,205.71.
The projected lower bound is: 3,076.98.
The projected closing price is: 3,141.34.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white 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 84.7417. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 6 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 47.77. 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 5 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 117.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 5 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 -2.580 at 3,144.480. Volume was 6% below average (neutral) and Bollinger Bands were 41% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,097.34 3,245.41 3,214.54
Volatility: 15 13 13
Volume: 227,185,136 226,788,544 211,484,096
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 2.2% 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 26 periods.
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