Technical Analysis
STI Outlook – As of 7th May 2022
By Loopholes Singapore  •  May 7, 2022
Global markets are starting to retreat No markets are spared from reality. As we now start to anticipate the negative impacts of inflation on company performance, the market starts to see more selling than buying interests. After a short 3 trading day week, STI dipped and closed a lot lower at around 3290. This was probably caused by the fear of rising rates. Despite rising rates being beneficial to financial counters which are the main constituents of the STI, the decline was probably inspired by rising global uncertainties. So whats next in the month of May, many companies are paying out dividends hence there might be more interest in defensive counters before dividends are paid out. STI – Updated Daily Chart STI went straight down on friday and closed near to the 100 days moving average at 3290 level. If the dip continues, the next target would be roughly 3250....
Read the full article
By Loopholes Singapore

Your email address will not be published.


Your Email Address will not be published

Read More Articles
More from thefinance