July 2018, Straits Times Index was up 51.15 points or 1.56% over end of June. Out of 30 constituent stocks, 20 gained, 9 ended in the red, 1 remained unchanged.
If these are valid resistance levels, day-day price action will show up bearish reversal patterns that are very easy to spot in the zigzag action.
May 2018, Straits Times Index was down 185.75 points or 5.14% over end of April. Out of 30 constituent stocks, 22 end in the red. ComfortDelgro and Genting Singapore are gain leaders. Triple Top reversal pattern hinted in STI chart.
7 long term stock charts from 3 countries for mid to long term investors. EEM, XLRE, XLE, XLU, OCBC (O39.si), SPH (T39.si) and TVB (511.hk).
Tencent analysis on weekly and daily time frame. Key features: double top chart pattern confirmed, no longer bouncing off 13-wema, 20-day and 50-day ema dead cross. Until 408 is recovered, this stock will terminate last 6 bulllish years and we will have to find out where bottom is.
Exercise caution with Straits Times Index and Hang Seng Index which are both painting potential reversal chart patterns on weekly time frame.
Performance of 30 STI component stocks for April 2018. Straits Times Index was up 185.96 points or 5.42% over end of March. Out of 30 constituent stocks, 19 gained while 11 end in the red.