Primary Trend (6mths or more) : Bearish
Secondary Trend (1-6mths) : Bearish
Short Term(1mths or less) : Bearish
Long Term Trades : Not Preferred
Mid Term Trades : Not Preferred
Short Term Trades: Not Preferred
Levels to watch:
Resistance 2: 3,100
Resistance 1: 2,950
Support 1: 2,820
Support 2: 2,740
Probable STI Movement
Preferred : Sideways near 2,900-2,950 zone
Alternate : Bearish downward movement towards 2,850
Remarks: STI ranged 2,900 - 2,950 last week and it will likely to range 2,900, 2,950 again this coming week or a bearish downward move as both momentum indicator MACD and ROC(10) continues to show downward momentum.
Comments on STI Technical View
Primary Trend is bearish as 55 Days SMA is trading below the 144 Days SMA, and 144 Days SMA continues to be downward sloping.
Secondary Trend is bearish as MACD continues to be bearish and traes below the signal line.
Minor Trend is bearish as ROC(10) continues to slow and trade below zero.
Technical Terms (StockCharts.com):
Moving Average Convergence/Divergence Oscillator (MACD)
Support and Resistance
Rate of Change (ROC)