STI BUY SIGNAL 091020 TARGETS 2547The STI has generated a buy signal at 2520 on 091020.
Immediate target is 2547.
A close above 2547 and hold will generate a ST/MT uptrend towards 2717
Failure to break above 2547 will retest 2510 and resume its MT/LT downtrend.
The STI is in a persistent MT/LT downtrend till otherwise indicated.
Singapore
STI downtrend intact. Tries to stay above 2500. 031020.The STI has tried multiple times to hold the 2500 level in the last trading week.
A break and hold above 2510 will relieve the selling pressure.
A range within the downtrend has develop between 2450 and 2510 in the ST
A test of 2450 is still imminent.
STI Wilmar F34 seeks $4.54 to resume uptrendWilmar resumed its uptrend LT in July 2019.
Multiple buy signals MT and ST were issued on 270720 and 250920 @$4.41-$4.46
PIVOT : $4.54
Buy at the break and hold above $4.54
Target ATH of $7.29
Stop Loss $4.36
A break of $4.36 will negate the ST buy signal and test $4.04
STI downtrend struggles to break above 2500The STI is into its downtrend for 15th weeks now since the 24th of July 2020.
2500 level needs to be reclaimed and a close above 2520 will negate the correction.
The downside target of 2200 in the MT/LT remains a viable target if a sustained recovery above 2520 and 2551 fails to materialize.
SPX weakness intensifies ST. Price into the Daily Cloud.The short term weakness on the SPX persists since the short signal was triggered in the short term on the 4th of Sep 2020. The uptrend starting on the 25th of May 2020 the daily charts has taken a pause. Price now will test the downside on the SSSB (RED LINE) on the cloud.
A break and HOLD below the SSSB cloud will start a new downtrend in the MT. The downside target remains at 2973..
SPX correction intensifies in the short termA close at 3329 in the SPX sits exactly on the SSSA line of the day ichimoku cloud.
A test of the base of the cloud is imminent. The baseline forms support for now. The Teken level on the weekly charts is at 3350, this has been violated giving way to more weakness.
Bottomline: A resumption in the uptrend must see a bounce from Friday's close at 3329 to 3375 for the MT/LT uptrend to resume. A break and hold below the SSSB line on the Day charts may signal a corrective move to 2973, The Supertrend line on the weekly.
Opportunity to LONG DBSI spot a potential entry to LONG SGX:D05 in the coming days with a good RR.
Almost a month DBS is ranging from $21 to low $20ish, the consolidation is getting tighter and compression needs to be released.
To cut the story short, here is my personal call:
Buy Limit at $20.00
Stop Loss at $19.50
Take Profit at $21.60
Risk Reward Ratio = 3.12R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot-sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee.
As always, move your SL when you are in the profit zone.
STI OUTLOOK 140920. weakness persistsThe STI is struggling to hold on to 2500. All indicators are on a downtrend.
To negate short term weakness, the STI must close back above 2540 - 2586 and hold.
The Medium and Long term prospects are weak and in a persistent downtrend.
2200 is the next target is weakness persists in the MT.
Ready for reversal and retest of ATHAfter a failed breakout and a pullback, oversold conditions may prompt this reversal. A long-legged Doji on the daily is further indicator of this. Fib levels drawn from recent highs to lows provide support and resistance levels, additional stop loss could be set to previous day's lows or percentage based on your risk level. Ideal entry would be retest of the entry fib as it may gap up over it.
Small Pullback Before Taking OffThis is an update from my previous post on DBS:
Currently we have a risk free trade trade running on DBS SGX:D05 .
Today I see another opportunity to be bullish, however we have to wait until it retraces to the nearest level.
Big players are in the midst of profit taking from the previous bull run.
Technically: downtrend channel resistance had been breached, we are waiting for the small pullback and buy from that area.
This week my trade opinion :
Buy Limit at $20.50
Stop Loss at $20.20
Take Profit at $21.78
Risk Reward Ratio = 4.27R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee.
As always, move your SL when you are in the profit zone.