Saturday, October 22, 2011

STI - Oct 21




In the past week, STI managed to stay above the 20Day Moving Average, unlike previous occasions, where it fell below the 20DMA shortly after climbing above it. So, will it be different this time?

Fundamentally, we are still in a down trend (We are below 200DMA). GMMA is converging, the long-term (green) and short-term (red) moving averages are converging, meaning a potential change of trend. Volume has been rather low these few sessions --> an increase in stock prices with low volume suggest lack of broad base participation and may not be sustainable.

RSI is about 50, in neutral territory, meaning we are neither overbought nor oversold (50-50).

With DJIA having broke resistance last night. There may be a real change of trend and we might really have bottomed on 4/5 Oct.

Disclaimer applies. Trade/Invest with care! =)

On a personal note, I look forward to receiving dividends from Sabana REIT next month! =)

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