Continue reading this on our app for a better experience

Open in App
Home Capital Right Timing

Right timing: STI upclimb supported by momentum and moving averages

Goola Warden
Goola Warden • 1 min read
Right timing: STI upclimb supported by momentum and moving averages
(Apr 12): The Straits TImes Index is likely to continue its gradual ascent towards 3,420, the target indicated when the index broke out of resistance at 3,190 in mid-Jan. Medium term indicators are supportive and moving averages are strengthening with the
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

(Apr 12): The Straits TImes Index is likely to continue its gradual ascent towards 3,420, the target indicated when the index broke out of resistance at 3,190 in mid-Jan. Medium term indicators are supportive and moving averages are strengthening with the 100- and 200-day moving averages are forming a positive cross.

Other trend-following indicators such as ADX is rising and the DIs are positively placed. Although volume is not expanding as the index rises, the uptrend should be able to continue as index stocks and blue-chip stocks have attracted buying demand.

Best World support appears at $1.50

Prices peaked in Feb and were quite volatile till mid-March when the counter embarked on a steady and gradual downtrend.

Since then, support at $2.00 has been breached, and prices have also fallen below its 200-day moving average at $1.93. Elsewhere, the 50- and 100-day moving averages have made a negative cross.

Short term indicators are becoming increasingly oversold, and prices are likely to find support at $1.50 soon.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.