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Monday, June 25, 2018

STI

One word , downtrend! The STI index is on the down trend mode after touching the high of 3641.65 on 2nd May 2018, it has since retreated sharply and continue to head lower.


The index is trading below it's 20, 50 , 100 & 200 days moving average, this is rather bearish.




Today it has again broken down the recent low of 3270, this is quite negative and may likely continue to see the index sliding further down towards 3200 with extension to 3100 level.



 Not a call to buy or sell.

 Please do your own due diligence.



If you happen to take a look at the 3 local bank counters - DBS,UOB & OCBC and property stock counter such as Citydev, UOL & Capitaland etc are are having the similar chart patterns, that is downtrend.

The local bourse is also being clouded by the trade war .Uncertainty would usually affect the market sentiment.



STI market has indeed entered into BEAR mode, therefore, please exercise with great care and trade with extra cautious!

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