Thai Baht (THB) Capital Boost

Thai Baht (THB) Capital Boost

Singapore Technologies Electronics (ST Electronics) has increased the capital of its subsidiary, ST Electronics Thailand by THB 310 million (approximately SGD 12.6 million). This capital boost aims to support the expansion and growth of the company’s rail electronics business in Thailand, and will bring ST Electronics’ total share capital contribution in ST Electronics Thailand to THB 430 million (approximately SGD 17.3 million). This capital injection is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

Technical Analysis

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 33.83.

The projected upper bound is: 33.44.

The projected lower bound is: 33.04.

The projected closing price is: 33.24.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 20 white candles and 29 black candles for a net of 9 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 20.4814. This is not an overbought or oversold reading. The last signal was a buy 4 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 22.71. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 87 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 -99. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 13 period(s) ago.

Rex Takasugi – TD Profile

FOREX THB= closed unchanged at 33.260. Volume was 7% below average (neutral) and Bollinger Bands were 90% wider than normal.

Open     High      Low      Close     Volume
33.280  33.340  33.210  33.260  10,290

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

Moving Averages: 10-period   50-period   200-period
Close:                       33.38          33.85           34.77
Volatility:                3                   4                  4
Volume:                  11,573          10,844        10,883

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

FOREX THB= is currently 4.3% 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 THB= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on THB= and have had this outlook for the last 11 periods. Our momentum oscillator is currently indicating that THB= is currently in an oversold condition. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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Ivy Heffernan

My name is Ivy Heffernan, and I am interested in a wide range of professions. Economics and politics at the age of 18 is easy when your father has a Ph.D in economics, i have been taught to put together technical analyst and stay up to date with the changing markets as well as what is happening in the political world.

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