Singapore: STI Index (.STI) Shares edge higher

Singapore: STI Index (.STI) Shares edge higher

Singapore: STI Index (.STI) Shares edge higher

Singapore stocks ended slightly higher on Wednesday, with the Straits Times Index rising 4.74 points or 0.2 per cent to 3,065.36.

Gainers outnumbered losers 234 to 173, after about 1.57 billion shares worth S$1.17 billion in total changed hands.

The most actively traded counters were Rex International, which gained 2.5 per cent to 8.2 Singapore cents apiece, with 38.2 million shares traded, and AEM Holdings, which rose 11.8 per cent to 94.5 Singapore cents, with 37.9 million shares traded.

Other active index stocks included Venture which was up 1.6 per cent to S$14.99, and DBS, which lost almost 1 per cent to S$23.77.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 3,144.83.

The projected lower bound is: 2,978.60.

The projected closing price is: 3,061.72.

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 73.7535. This is not an overbought or oversold reading. The last signal was a sell 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 47.70. 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 4 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 69. This is not a topping or bottoming area. The last signal was a sell 1 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 3 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed up 4.740 at 3,065.360. Volume was 5% below average (neutral) and Bollinger Bands were 14% narrower than normal.

Open High Low Close Volume___
3,084.5003,092.9503,060.8803,065.360 223,316,800

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

Moving Averages: 10-period 50-period 200-period
Close: 3,028.70 3,134.28 3,345.04
Volatility: 23 17 16
Volume: 255,308,688 233,230,704 249,980,944

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 8.4% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 18 periods.

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