Singapore: STI Index (.STI) shares drop 0.2% despite positive China factory data
Investors took heart to a better-than-expected August reading for China’s manufacturing sector but worries over US President Donald Trump’s latest trade threat meant it was a mixed start to the week for Asian equities.
Singapore’s Straits Times Index (STI) dropped 0.3 per cent at the open, hovering in that region for most of the session before closing 5.64 points or 0.2 per cent lower at 3,119.99 on Monday. The blue-chip index managed to eke out a 0.4 per cent gain during a turbulent September.
Elsewhere in the Asia-Pacific, Hong Kong and South Korea notched up gains. But Australia, China and Japan posted losses. Malaysia closed flat.
With Mr Trump’s latest threat, perhaps unsurprisingly, the Shanghai Composite Index was the worst performer among the region’s key benchmarks. On Monday, it ended close to a month low at 2,905.19, shedding 26.98 points or 0.9 per cent.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 3,178.51.
The projected lower bound is: 3,051.83.
The projected closing price is: 3,115.17.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 1 white candles and 9 black candles for a net of 8 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black 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 23.2138. This is not an overbought or oversold reading. The last signal was a buy 0 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 40.21. 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 21 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 -125.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 9 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 sell 4 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed down -5.640 at 3,119.990. Volume was 11% below average (neutral) and Bollinger Bands were 39% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 3,146.43 3,184.12 3,219.39
Volatility: 7 13 13
Volume: 193,683,888 223,103,136 210,422,032
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 3.1% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of .STI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .STI and have had this outlook for the last 12 periods.