Sept 19, TA for STI
Trend - Down
Momentum - Oversold (stochastic)
14D Support - 2720
14D Resistance - 2886
Candle - NA
Volume - Average
From the daily chart of STI, you can see that it is forming a nice "Descending Triangle". It is being resisted by the downward trendline and 20D MA. Most of the time, it is trading near support. It can only be bullish if it can breaks through the 2880 resistance line, else downward pressure is still in tact.
From the weekly chart, the Wave formation + Fibonacci Retracement + Classical Support (2700) are a set of good reference to watch. Don't be too excited when the stocks move up, watch Mr STI - Macro movement.
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