Singapore: STI Index (.STI) shares closed lower on Wednesday

Singapore: STI Index (.STI) shares closed lower on Wednesday

Singapore: STI Index (.STI) shares closed lower on Wednesday

Asian stock markets ended mixed on Wednesday, with investors largely staying on the sidelines and refraining from making significant moves due to lack of triggers.

The overnight positive close on Wall Street set up a higher opening for the markets, but lack of support at higher levels resulted in some of these settling down in negative territory.

The Straits Times Index down 0.4 per cent or 13.26 points to 3,326.74.About 1.86 billion shares worth S$1.31 billion in total changed hands, which worked out to an average unit price of S$0.70 per share.

Losers outnumbered gainers 225 to 157.

The most actively traded stock was Yangzijiang Shipbuilding, which rose 8.8 per cent or S$0.08 to S$0.99 with 89.2 million shares changing hands.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 3,398.04.

The projected lower bound is: 3,250.75.

The projected closing price is: 3,324.40.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 21 white candles and 28 black candles for a net of 7 black candles.

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 65.6503. This is not an overbought or oversold reading. The last signal was a buy 1 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 22 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 74. This is not a topping or bottoming area. The last signal was a sell 7 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 25 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed down -13.260 at 3,326.740. Volume was 22% above average (neutral) and Bollinger Bands were 29% narrower than normal.

Open High Low Close Volume___
3,336.2203,341.5203,308.7203,326.740 309,429,568

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

Moving Averages: 10-period 50-period 200-period
Close: 3,311.37 3,315.26 3,436.77
Volatility: 15 14 14
Volume: 233,729,184 269,120,640 241,922,272

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 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 13 periods.

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