Singapore: STI Index (.STI) tide has turned for the Singapore office market
Singapore’s Office Price Index rose by 5.7 per cent the whole of last year compared with a 2.4 per cent decline in 2017, according to statistics from the Urban Redevelopment Authority (URA).
With the index rising six straight quarters, accumulating a total gain of 8.9 per cent from the trough in the second quarter of 2017, office prices are just 0.07 per cent away from the all-time high in the second quarter of 2015 since the start of the century.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 3,149.55.
The projected upper bound is: 3,272.75.
The projected lower bound is: 3,110.50.
The projected closing price is: 3,191.63.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 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 36.4177. This is not an overbought or oversold reading. The last signal was a buy 5 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 55.88. 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 65 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 -42. This is not a topping or bottoming area. The last signal was a sell 11 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 6 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed down -1.490 at 3,188.680. Volume was 8% below average (neutral) and Bollinger Bands were 40% 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: 3,191.78 3,123.25 3,232.88
Volatility: 9 17 15
Volume: 205,458,928 198,190,752 231,860,912
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 1.4% 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 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 17 periods.
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