STI is lying flat on the ground but it is a good thing

Week after week, STI is tugged sideways and no real piece of good news is coming up but STI is also getting increasingly immune by US’s corrections. A few months ago when US’s top-performing FAANG stocks are rallying, STI was completely unaffected by the hype but now STI is also unaffected when US indices are experiencing a correction. No one is sure STI will continue to hold at support levels but there is also little reason to believe that there are more potential downsides since the revenue of companies has pretty much bottomed in Q2. At the moment, moving averages are still showing weakness but the steepness of the moving averages are fairly horizontal.

STI – Updated Daily Chart

Moving averages are not showing clear signs of recovery or further downside STI Daily chart continues to trend sideways...