STI Weekly Technical Data Analysis (31 May 2013)

Publish date: Fri, 31 May 2013, 05:48 PM

STI Weekly Technical Data Analysis

31 May 2013


Dear all,

Welcome back to our STI Weekly Technical Data Analysis.

Some points to note for this week's analysis (27-31 May 2013):
1) None 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 3393.17, the STI took another sharp plunge this week to close at 3311.37 (closing end of today), with an intraweek high of 3416.52 and an intraweek low of 3303.11.

Following last week's close with a strong correction, the index rebounded slightly at the start of this week.

But as selling pressure started building up again on Wednesday, the index dived for the subsequent three sessions to end the week near its intraweek low.

At the same time, the 3320 key resistance-turned-support has also been breached today.

This bearish sentiment could pave way for further selling pressure in the week ahead.






Discussions
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CapitalVia SGX

STI keep falling..any suggestions..bank and property make it down

2013-05-31 20:00

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