In last week, STI close flat from the opening of 3294 and close lower at 3294. A black candle stick with long lower shadow similar to a hanging man indicates on the heavy profit taking from investors.
Key Economics Data report:
Stocks reversed a two-day slump to close out the week on a positive note, with the S&P 500 rebounding after finishing below it 50-day moving average for the first time this year, but all three major averages still logged their worst weekly drop this year.
Volume’s been light—there’s no real economic news, nothing out of Washington, Fed’s quiet and no more real earnings until Monday.
Technical Analysis on STI
STI index close flat in this week as investors profit take on the earnings report
1) In weekly chart, a black candle stick with long lower shadow affirms that investors are selling on earning reports.
2) The weekly trading volume rises …