STI Weekly Technical Outlook (5 Oct - 9 Oct 15)
Primary Trend (6mths or more) : Bearish
Secondary Trend (1-6mths) : Bearish
Short Term(1mths or less) : Sideway
Long Term Trades : Not Preferred
Mid Term Trades : Not Preferred
Short Term Trades: Selective Swing Trades
Levels to watch:
Resistance 2: 3,150
Resistance 1: 3,000
Support 1: 2,800
Support 2: 2,700
Probable STI Movement
Preferred : Sideway Range between 2,750 - 2,900
Alternate : Bearish Downward movement towards 2,700
Remarks: STI broke 2,800 and rebounded near 2,700. With ROC(10) at its low end, STI likely to trade sideway for this week.
Comments on STI Technical View
Primary Trend is bearish as 50 Days SMA is trading below the 150 Days SMA and 150 Days SMA continues to be downward sloping.
Secondary Trend is bearish as resistance (3,000) holds, even as MACD is bullish.
Minor Trend is sideway as STI rebounded from near 2,700 with ROC(10) at its low end.
Technical Terms (StockCharts.com):
Moving Average Convergence/Divergence Oscillator (MACD)
Support and Resistance
Rate of Change (ROC)