SGX Singapore Stocks & Forex Live Picks
STI Singapore Stock Market Weekly Outlook 25 Feb - 01 Mar
Your Advisor
Publish date: Mon, 25 Feb 2013, 01:00 PM
Your Advisor
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| STI Technical Chart |
STI currently is in consolidation/correction phrase which denotes the good entry for investors. It's only a 3 month rally in STI and its not at its highest level the higher levels are still there.
As STI trading above its 61.8% retracement level and heading towards the 78.6% mark, in between STI having immediate resistance levels after breaching these levels STI can move towards the next level.
STI is in intermediate consolidation or correction phrase and we can expect some more point's correction in it which will be healthy for new investors who want to enter in the markets.
STI made a tweezers bottom candlestick pattern with doji stars. It reflects that index traded and took support at the same levels which is bullish sign for STI.
STI Resistance Levels:
STI having Resistance @ 3315 and above this level it may take resistance from 3345-3385 levels.
STI Support Levels:
STI having nearest support @ 3260 below this 3240-3220 will be the support area for market.
Technical Indicators:
Technical indicators give the impression of being in overbought zone.MACD gives bullish cross over and RSI rebound from high and trading @ 69.69 mark.
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Support
1
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Support
2
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Support
3
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Resistance
1
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Resistance
2
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Resistance
3
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3260
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3240
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3220
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3315
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3345
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3385
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
