In last week, STI merely gain 8 points from the opening of 3070 and close higher at 3078. A black candle sticks with little lower shadow indicates investors are mindful of the critical resistance at 3088.
Key Economics Data report:
In the coming week, quarter-end Friday could bring some portfolio adjustment as investors lock in some gains where the stock market’s 16-percent rise has surprised everyone.
Looking forward, there are data on housing and the consumer data. There are also be more companies issuing per-announcements on earnings, as the global slowdown holds back revenue growth and bites into profits.
Technical Analysis on STI
STI index had re-test the critical resistance at 3088 for the 2nd time and yet again failed to break above this level.
1) In weekly chart, a black candle sticks with short lower shadow indicates on slight profit taking by the investors.
2) The weekly trading volume drops …