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Third of the week! This newsletter has been labelled with an S as the newsletter covers Singapore-listed tickers today. Let’s review some names:
Straits Times Index (STI)
STI has been moving steadily to the upside ever since it broke out of a multi-year compression pattern in 2024 and retested the breakout in 2025.
It's currently pushing towards the 2.618 Fib extension sitting at 5,242.31 in a short-term green ascending channel.
However, STI broke down from the channel following Friday's trading session. Moreover, STI has been forming a bearish divergence on the daily, alongside a choppy bullish/bearish stochastic crossover pattern.
If STI is unable to reclaim its channel, it likely pushes down into the 2 weekly imbalances below at 4,849.10-4,854.05 and 4,765.29-4,790.43.
STI has further support from its blue and dark green support trendlines. Should these support trendlines hold, there is still a likelihood of continuation into the 2.618 Fib extension.
Otherwise, STI could potentially start a deeper correction.
DBS Group Holdings Ltd (SGX: D05)
D05 is currently trading above its Fib extension level at 51.94. Following Friday's trading session, it broke down from the green ascending channel on the daily.
A bearish divergence is currently present on the weekly chart, alongside a freshly-formed bearish stochastic crossover.
Should D05 be unable to reclaim the ascending channel, it likely fills the 55.59-56.29 monthly imbalance first, with a deeper correction back into the 51.94 Fib level a likelihood if the monthly zone is breached.
Otherwise, if D05 holds 51.94, it can still continue towards the next Fib level at 70.72 with time.
There are 2 notable support trendlines (blue and dark green) that are still in play, so keep a lookout for any retest of these lines in the longer term if there's a deeper pullback.
Overseas Chinese Banking Corporation Limited (SGX: O39)
O39 is currently trading over its 1.618 Fib extension at 21.35 and its weekly imbalance at 20.54-21.
On the monthly, it’s trading at extreme overbought levels.
On the daily chart, It broke down from its short-term green support trendline. Bearish divergence is also present on both the RSI and stochastic.
Given this structural breakdown, it’s likely to come back into its 1.618 Fib extension next. The reaction here will be telling given what happened on Silver.
Should O39 fail to hold the 21.35 level, it’s likely to correct further into the blue support trendline.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$Straits Times Index(STI.SI)$ $DBS(D05.SI)$ $OCBC Bank(O39.SI)$ $UOB(U11.SI)$ $AEM SGD(AWX.SI)$
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