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: Long Trade coupled with Short Trade
Levels to watch:
Resistance 2: 3,043
Resistance 1: 2,912
Support 1: 2,793
Support 2: 2,740
Probable STI Movement
Preferred : Sideway range between 2,800 - 2,900
Alternate : Downward trend towards 2,750
Remarks: STI likely again to maintain a sideway trading momentum with no resistance breakup or signs of strong uptrend. Thus, the blog maintained a sideway view for STI, with a possible short term downtrend alternative.
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 neutral as MACD bullish crossover signal is observed but trades below the zero line.
Minor Trend is neutral coupled with mild bearish as ROC(10) is trading at midpoint and no signs of bullish momentum.
Technical Terms (StockCharts.com):
Moving Average Convergence/Divergence Oscillator (MACD)
Support and Resistance
Rate of Change (ROC)