Singapore - Straits Ti (SINGAPO.NDX)

Short term

Singapore - Straits Times is in a rising trend channel in the short term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index has marginally broken up through resistance at points 3740. An established break predicts a further rise. Volume has previously been low at price tops and high at price bottoms. This weakens the rising trend and could be an early signal of a coming trend break. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive

Medium term

Singapore - Straits Times has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 3500 points. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive

Long term

Singapore - Straits Times has broken up through the ceiling of the rising trend channel in the long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 3400 points. Trading volume has increased substantially lately, which may be because of fundamental news. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive