STI Weekly Technical Data Analysis (10 May 2013)

Publish date: Fri, 10 May 2013, 05:15 PM

STI Weekly Technical Data Analysis

10 May 2013


Dear all,

Welcome back to our STI Weekly Technical Data Analysis.

Some points to note for this week's analysis (6 May - 10 May 2013):
1) 5 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 3369.90, the STI surged further to close at 3443.77 (closing end of today), with an intraweek high of 3445.39 and an intraweek low of 3113.17.

Despite starting the first two sessions of the week in a muted consolidative tone, the index came alive on Wednesday with a bullish break above the 3405 resistance.

With the improvement in upside momentum, the index climbed subsequently for the rest of the week to end just a tad below its intra-week high.

Should there be more positive news emerging from the European and US markets tonight, we could see the STI maintaining its recovery towards the 3485 key resistance for a test in the week ahead.

Until then, have a great weekend!





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CapitalVia SGX

Olam boost SGX

2013-05-10 19:43

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