STI Chart Analysis

Ichimoku Cloud (daily)
STI manages to close off the week at 3067. As mention in the  last report, STI face a strong resistance at 3065. This week will see whether STI can maintain above 3065 and regain back the rising momentum to challenge the next resistance at 3143. If not, STI may hover around 3065 for a while as the next consolidation level. The next strong support level is at 3000, the recent low point where STI recovered. STI Tenken sen (blue line) at 3036 is still much lower than the Kijun sen (red line) at 3089. It also shows that the momentum of decline is slowing down.

Bollinger Bands (weekly)

Weekly STI shows a good rebound and the index may challenge the middle band at 3100. The BB channel is moving downward. This is a bearish trend. It is a crucial time to see if the lower band support at 2928 will hold in the coming weeks. Any recovery will need to go above 3100 and toward the upper band resistance at 3271.

 Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.

STI Chart Analysis

Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3061 and is going much lower than the Kijun sen (red line) at 3091. This is a bearish sign. The consolidation phase seems to be over since STI went straight below the cloud in a clear move in 2 weeks. STI below the cloud means it will be facing a strong resistance at 3065 and another resistance at 3145 if the bulls want to regain back control for an uptrend. The previous low of 2920 on 18 March 2011 is the next support level to watch.

Bollinger Bands (weekly)

Weekly STI has dipped below the middle band at 3107 and moving towards the 2936 support level of the lower band. The previous time when STI touched the lower band, it rebounded by over 100 points in 3 weeks. It is a crucial time to see if the support will hold again in the coming weeks.

Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.

STI Chart Analysis

Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3126 and is very close to the Kijun sen (red line) at 3128. STI is now positioned inside the cloud, which means it will be facing a strong support at 3065 and a resistance at 3143. If 3065 is broken convincingly, it will become the start of a new bearish trend. Longists will have to monitor the level carefully to determine if it is a false break down or a new down trend has started.

Bollinger Bands (weekly)

Weekly STI has dipped below the middle band at 3118. If this support is broken, STI may go lower towards the 2952 support level of the lower band. From the past few weeks, STI has went below the middle band twice including last week data and both lows are at about 3077. As such, it can potentially become the start of a new bearish trend if this 3077 support level is broken convincingly this week. Beware of false break down which is not followed by high volume.

Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.

A-Sonic Chart Analysis: Exponential Moving Average Moving Up

Exponential Moving Average (EMA)
The EMA lines are beginning to rise again. The 20-D EMA line (yellow) at 0.076 is providing the first level of support. It has been a strong support in the past few trading days.

Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.

STI Chart Analysis

Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3140 is back below Kijun sen (red line) which is at 3147. This confirms that the consolidation phase is still not over yet. A strong move about the blue and red line will mark the start of a new uptrend. Thus far, the two Span lines is still not diverging widely when moving upward. The pattern can be considered mildly bullish. The near term support (Span A) is now at 3112 while the stronger support level (Span B) is at 3073.

Bollinger Bands (weekly)

There is not much changes in the weekly chart. The middle band at 3128 is providing quite a strong support at the moment. If this support is broken, STI will go lower towards the 2959 support level of the lower band. A uptrend move will need it to break the resistance level at 3298 as confirmation. As the bollinger band narrows, the chances of a change in trend or start of a new trend will increase. For the time being, keep monitoring the daily chart for any sudden movement.

Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.

STI Chart Analysis

Ichimoku Cloud (daily)
STI consolidation is more than a month old already. STI Tenken sen (blue line) is now at 3154 while Kijun sen (red line) is leveling at 3147. The blue line has moved slightly above the red line which indicates some bullishness. STI is still not considered out of the consolidation phase until we can see a bigger difference between the two lines. A significant event for last week movement is Span A has crossed above Span B line which signifies a new uptrend move. The two Span lines should diverge while moving up together as a strong signal to a new up trend. The near term support (Span A) is now at 3101 while the stronger support level (Span B) is at 3083.

Bollinger Bands (weekly)

The weekly chart has not indicated a new up trend yet. The candles of recent fews week are still hovering above the middle band of 3135 which will provide the first support level. If this support is broken, STI will go lower towards the 2957 support level of the lower band. A uptrend move will need it to break the resistance level at 3312 as confirmation.

Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.

STI Chart Analysis

Ichimoku Cloud (daily)
STI Tenken sen (blue line) is at 3138 while Kijun sen (red line) is leveling at 3147. The red line above the blue line indicates some bearishness, but since the difference is not much, it should still be a consolidation period awaiting a new direction to be confirmed. The near term support (Span B) is now at 3089 while the stronger support level (Span A) is moving closer to it at 3068. This could indicate the support at 3089 is getting stronger by the day. A cross over of Span A above Span B line will signify a new uptrend move.

Bollinger Bands (weekly)

STI is still in consolidation mood and looking for a new direction based on last week recovery as shown by a similar to piercing line candlestick pattern. A uptrend move will need it to break the resistance level at 3315. The middle band is at 3136 which will provide the first support level. If this support is broken, STI will go lower towards the 2957 support level of the lower band.

Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.