JP Morgan’s target of 5,000 may be attainable this year.
The Straits Times Index (STI) closed at 4,523 on Nov 28, up 54 points week-on-week. The index remains above its rising 50-day moving average at 4,425.
During the easier phase, both the 50-day moving average and a support area around 4,400 were able to stop the decline. Since ADX has eased towards the 20 level, which is a neutral level, and the DIs remain positively placed, the index has the potential to move higher.
