Singapore: STI Index (.STI) shares hit over 3-week high

Singapore: STI Index (.STI) shares hit over 3-week high

Singapore: STI Index (.STI) shares hit over 3-week high

The Straits Times Index (STI) ended 37.25 or 1.17% higher at 3,217.68

The FTSE ST Mid Cap Index rose 2.70% whilst the FTSE Small Cap Index fell 5.26%.

The top active stocks were DBS, which inched up 0.81%, OCBC Bank, which rose 0.19%, Singtel, which advanced 0.10%, UOB, which grew 0.36%, and Keppel, with a 0.23% advance.

OCBC Investment Research noted that the Dow Jones Industrial Average notched a second straight all-time high, but a slump in mega-cap technology and Internet-related stocks weighed on the broader market, pressuring the Nasdaq.

Six out of eleven sectors in the S&P 500 indices closed higher, led by Telecommunication Services (0.98%) and Energy (0.72%) whilst Financials (-0.37%) and Information Technology (-0.36%) led the losses.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 3,287.97.

The projected lower bound is: 3,148.70.

The projected closing price is: 3,218.34.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 2 black candles for a net of 5 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 long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 90.4587. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 7 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 56.07. 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 8 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 167.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 8 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 4 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed up 1.480 at 3,219.160. Volume was 38% below average (neutral) and Bollinger Bands were 1% narrower than normal.

Open High Low Close Volume___
3,215.6903,232.6103,213.2803,219.160 153,755,008

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

Moving Averages: 10-period 50-period 200-period
Close: 3,160.23 3,233.47 3,402.59
Volatility: 11 14 15
Volume: 211,451,072 222,457,296 242,590,416

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 5.4% 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 25 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH