Thursday, November 15, 2018

SINGAPORE STOCKS: A VERY IMPORTANT TECHNICAL UPDATE EVERY INVESTOR SHOULD KNOW!

Singapore Stocks
Dear readers, with yesterday’s southing of the US stocks markets yet again, it further shows that the global and Singapore stocks markets are still lacklustre with no compellingly bullish macro factors to guide the stocks markets and investors forward.

The STI is currently at 3,043.19 with the immediate resistance and support at 3,100 and 3,000 level respectively. In several instances before, the STI has slipped below the 3,000 psychological mark and it just indicated how volatile the Singapore stocks markets have become. And I would like to share one important technical update with investors below.
As I had previously shared with investors, beside the STI, one could also look at the STI ETF, an ETF which tracks the STI for clues of the developments of the Singapore stocks. Right now, I noted an important indicator of the already bearish STI ETF.

The STI ETF crossed below the 200-Days-Moving-Average, followed by the 300-Days-Moving-Average both in Jun 2018. Thereafter, the STI has been trading below these two longer-term moving averages. From what I noted yesterday, the 200-Days-Moving-Average is now poised to break below the 300-Days-Moving-Average and if so, the bearish outlook of the STI is not only likely to be sustained but will become even more bearish for the Singapore stocks markets. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.


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