In last week, STI gains 20 points from the opening of 3150 and close higher at 3170. A white candle stick with short upper/lower shadow indicates that investors have no qualm on buying the stocks higher.
Key Economics Data report:
The U.S. economy created 195,000 new non-farm payroll jobs in June after an upwardly revised 195,000 jobs were created in May and 199,000 were created in April. The unemployment rate was unchanged at 7.6 percent as more people entered the labor market.
Technical Analysis on STI
STI re-test the critical support at 3178 in last week but failed to break above this level.
1) In weekly chart, a white candle stick with short upper/lower shadow affirms that investors are buying up the bargain stocks.
2) The weekly trading volume drop tremendously as investors go sidelined for more news.
3) MACD and RSI indicators are bearish as RSI trend downwards.
4) STI ...
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