Quantstrategic
STI BUY SIGNAL 091020 TARGETS 2547The STI has generated a buy signal at 2520 on 091020.
Immediate target is 2547.
A close above 2547 and hold will generate a ST/MT uptrend towards 2717
Failure to break above 2547 will retest 2510 and resume its MT/LT downtrend.
The STI is in a persistent MT/LT downtrend till otherwise indicated.
STI downtrend intact. Tries to stay above 2500. 031020.The STI has tried multiple times to hold the 2500 level in the last trading week.
A break and hold above 2510 will relieve the selling pressure.
A range within the downtrend has develop between 2450 and 2510 in the ST
A test of 2450 is still imminent.
STI Wilmar F34 seeks $4.54 to resume uptrendWilmar resumed its uptrend LT in July 2019.
Multiple buy signals MT and ST were issued on 270720 and 250920 @$4.41-$4.46
PIVOT : $4.54
Buy at the break and hold above $4.54
Target ATH of $7.29
Stop Loss $4.36
A break of $4.36 will negate the ST buy signal and test $4.04
Mapletree Ind Trust ME8U watch $3.19The uptrend of ME8U is impressive since 2011.
Price is expected to trade between $3.04 and $3.34 in the ST
A break upside of $3.34 will resume its uptrend.
Pivot : $3.19
A break of $3.19 will lead to ST weakness to to test $3.04
A break of $3.04 will see a MT correction to $2.17
STI downtrend struggles to break above 2500The STI is into its downtrend for 15th weeks now since the 24th of July 2020.
2500 level needs to be reclaimed and a close above 2520 will negate the correction.
The downside target of 2200 in the MT/LT remains a viable target if a sustained recovery above 2520 and 2551 fails to materialize.
SPX pivot at 3344 to pause Correction The SPX attempts to make a break above 3344 to pause the recent 10% correction from its recent highs of 3591 early Sep.
A close above 3344 on the 4hr charts will confirm the end of the correction and may test 3392 to resume the uptrend in the M/L term timeframes
Alternative, a sustained close below 3344 will retest the lows of 3211.