Market Review and Trends
Will the STI Sink into a Correction Territory?
By InvestingNote  •  May 27, 2022
Since reaching a high of 3,466 points on 17 February 2022, Singapore’s benchmark Straits Times Index (or STI) have subsequently retraced – at the time of writing, it is about 77 points (or 2.4%) shy of falling into the correction territory (when falls by more than 10% from its high) at 3,119 points and below. This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with a username known as @ljunyuan and has close to 2,000 followers. The big question is – will the STI fall into a correction territory? If you ask me, I would think there’s a 50% chance it may happen – it will largely depend on how the US indexes moves (as the STI tend to mirror its movements.) In terms of technical analysis, the candlestick patterns on the previous 2 trading days are red bearish candlesticks, with stochastic in a downtrend position and pointing...
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By InvestingNote
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