A look at singapore stocks and the STI

Let's start with a look at the STI.

With Yellen signalling a rate hike in december and the US presidential election, BREXIT etc. the World is just so filled with news and anxiety everyday. Well, Life goes on and we can only look out for changes in the market and take note of the companies that we are interested in.

The STI has been in a range since march and is now at the mid-range of the march-september range of 2.78-3.00. Still looking for direction, maybe from today's US NFP.

 

Diary farm now trading at the top of the channel, I think any dip to $6.3 will be of interest. My entry is around there also since I first blogged about this.

 

 

 

 

Great Eastern. I will only look at it when it reaches $16. As an insurer, I think we can look at them when the price is right, just because Asians are naturally fearful of the unknown and will probably continue to over insure themselves.

 

 

QAF, another stock I am vested in. price is still in a uptrend range. I am long $1.05+? price target is $1.35 top of the range, and support probably at 1.09 the next time it reaches channel support.

 

 

Another stock I am interested in is Super group, price has been in consolidation for a year and now is touching the TL resistance.

 

Singapura Finance, is another stock I just got vested in at $0.87. This is a growth play.

eurgbp

EURGBP is in a triangle and close to the apex. A breakout will be huge above 0.8420. support is 0.8360.

usdjpy

USDJPY spiked today to test the resistance of the longer trendline again. Price remains under 106.50, a break of which will cause the USDJPY to break out and up.

sgdmyr

 

The sgdmyr on the 1hour still shows a possible pennant/ flag formation that is still in the works. price is still within the flag, support is at 1.2980 - 70.

In the short term if price breaks resistance at 3.000. Then near term price targets, 3.068.

 

On the daily, the sgdmyr is still flirting with a longer term down channel resistance. Price is now at resistance. A break targets to 3.12 which is the previous resistance from 2015 September.

Longer term on the weekly, the flag has grown too long to remain in play. We will need to consider it as a range down sloping channel.

A run up to 3.12 will be another interesting place to look at.

STI index

The STI has hit and cannot overcome the resistance of 2965. Price has broken out of the downchannel and support is seen at 2700. That will be a good place to consider entering longs.

usdjpy

USDJPY has dropped from the dailt trendline resistance and is heading towards the 38.2% retracement of the most recent upmove. 103.7 is the support and 50% retracement as well as a completion of the head and shoulders. resistance is back at 105.40-60. Interim support of a possible channel (smaller) is right here @ 104.40.

A look at STI and SPX and the banks

The SPX broke into new highs again, will this be a false breakout? How will that affect the STI?

STI looks set to break up and head to 2973 - 2994.

DBS looks like its forming a wedge. Price consolidation is too long to be a pennant/ flag. I think next week STI will show its form.

OCBC looks like a inverted head and shoulders forming, with the neckline at 9.40. a break of the neckline will target 10.30.

 

 

Another look at a different angle, OCBC could be in a channel targeting 7.0 - 6.80.

 

UOB looks ready to break out.

Disclaimer: I am not long any of the bank stocks. It will be interesting to see what happens next week.