STI Weekly Technical Data Analysis (25 Jan 2013)

Publish date: Fri, 25 Jan 2013, 06:49 PM

STI Weekly Technical Data Analysis

25 Jan 2013


Dear all,

Welcome back to our STI Weekly Technical Data Analysis.

Some points to note for this week's analysis (21-25 Jan 2013):
1) 3 of the counters are in the overbought region (RSI value 70 and above).
2) None of the counters is in the oversold region (RSI value 30 and below).

Technical Updates on the STI

After ending last week at 3211.22, the STI closed this week firmly higher at 3269.31 (closing end of today), with an intraweek high of 3269.31 and an intraweek low of 3210.74.

Following last week's muted consolidation, the index saw a key breakthrough this week.

From Monday through to Wednesday, the index climbed gradually but as sentiments improved sharply, the index picked up some strong upside momentum and punched through the 3230 resistance convincingly over the past two sessions.

Barring any negative news flow from the European and US markets overnight, we could continue to see further gains by the STI towards the 3280 subsequent resistance in the week ahead.

Until then, have a great weekend!






Discussions
Be the first to like this. Showing 2 of 2 comments

henrysoong

Yes, it shall break thru' 3280, cheer for the rally before CNY

2013-01-25 21:45

Kohky26

Will it cross 4000 tis year?

2013-03-05 06:51

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