I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Saturday, 7 May 2016

STI Technical

The long term trend (monthly chart) remains downward bias as:
1) Bearish MA crossover continues
2) Lower High Lower Low trend consider
3) MACD Indicator belows zero

The mid term trend (weekly chart) remains downward bias as:
1) Resistance hold and Supprt broken
2) MACD Indicator belows zero (especially turned down near zeroline)

The short term trend (daily chart) remains downward bias as:
1) Up Trendline  is broken
2) MACD Indicator enters below zero (especially double top pattern formed)

Long-term investment view is cash or underweight bias.
Mid-term investment/trading view is profit- taking or short bias.
Short-term trading view is short trades bias.

Remarks: The bearish gaps observed are especially noticable on the daily charts, sellers is dominant.

Technical Terms (StockCharts.com):
Dow Theory
Moving Average Convergence/Divergence Oscillator (MACD)
Moving Average
Trend Line
Support and Resistance
Rate of Change (ROC)