Skip to main content

STI Weekly Outlook (7 - 11 Sept 15)



Straits Times Index (STI) Technical View:
Long Term(3mths - 1 year): Bearish
Mid Term(1-3mths)        : Bearish (Bullish if breaks above 3,000)
Short Term(1mths or less): Bullish

Trading the Singapore Market (Long Trades)
Long Term Trades : Not Preferred
Mid Term Trades  : Not Preferred
Short Term Trades: Preferred - counter-trend swing trades at support levels.

Levels to watch:
Resistance 2: 3,150
Resistance 1: 3,000
Support    1: 2,800
Support    2: 2,700

Probable STI Movement
Most Likely: Bearish Downtrend towards 2,700
Alternate  : Sideway Range between 2,800 - 3,000

Remarks: Alternate is favourable if STI breaks downtrend line.

Comments on STI Technical View
Long term trend is bearish as 50 Days MA is trading below the 150 Days MA and 150 Days MA is downward sloping.

Mid term trend is bearish as resistance (3,000) holds, even as MACD is bullish.

Short term trend is bullish as support(2,800) holds and momentum indicator, ROC(10) completed a head-and-shoulder like pattern, thus displaying possible short term upside momentum.


*Disclaimer Applies

 
Technical Terms (StockCharts.com):
Support and Resistance
Rate of Change (ROC)
Moving Average Convergence/Divergence Oscillator (MACD)
Moving Averages
Trend Lines
Tags

Most Popular

DBS Group Holdings (D05): Upward Move Expectations

  DBS Group Holdings (D05) Upward Move Expectations Technically, price trading above 36.58, could see DBS Group retest  previous high of 38.55. Both Relative Strength and momentum indicator FFI are supportive of the move. Stop below 35.42 Disclaimers apply
Read more

BYD Co (1211:HK) Witnessing Signs of Strength

BYD Co (1211:HK) Witnessing Signs of Strength On Friday, we observed strong buying within a wide trading range, with the stock closing near the day’s high and good volume recorded. The previous two days of selling showed relatively low volume, indicating potential supply exhaustion. The stock price is currently at a key resistance level, constrained by a downward trendline and a horizontal support-turned-resistance line. A breakout above this level could signal a potential trend reversal , with an initial technical price target of HK$300.00. The stock is outperforming the broader market, indicating strong market demand, as evidenced by our proprietary Relative Strength Indicator (RSI), which is above zero. Additionally, the volume momentum indicator (FFI) is improving, further supporting the possibility of supply exhaustion. The Stochastic indicator also continues to trend higher, reinforcing a bullish outlook. A stop-loss price is set below HK$248.40 . If the price falls below this l...
Read more

Week Ahead: Trump Trade and the Resilient US Economy

  Week Ahead, 9 Dec 2024 Macro News: U.S. markets continued their record-breaking streak this week following a reassuring speech by U.S. Federal Reserve Chair Jerome Powell, highlighting Fed's cautious yet comfortable stance on rate cuts. Beneficiaries of the "Trump Trade" also saw significant gains, with Tesla Inc. rising by +12.77% and Bitcoin up +2.24% for the week. The U.S. technology sector, represented by the QQQ ETF, also performed strongly, boosted by Friday's jobs report, which indicated a resilient economy. Meanwhile, the Hang Seng Index (2800 ETF) experienced a technical turnaround, gaining +2.28% this week. The rally was fuelled by speculation that Beijing might introduce additional lending and mortgage rate cuts to stimulate the economy. Medium Term: • S&P 500 (SPX): Index remains above the 6,000 level and could trend towards the 6,180 zone. • Straits Times Index (STI): STI reversed near our 3,860 resistance zone. We are neutral and is looking out for...
Read more