Singapore Stock Exchange
Today's Technical view on STI
Alex Gray
Publish date: Wed, 20 Nov 2013, 01:43 PM
Alex Gray
0 413
It is the high time to make the most of your surplus money. We offers free real time tips and recommendations for Stock Market, Forex, Commodity, Live Stock Market Data and more. invest with our tips and enjoy bigger profits on your small investment.
simply leave a contact no and email address or take a free trial now.
simply leave a contact no and email address or take a free trial now.
Technical view on STI
Singapore shares open high but closed below 3200 mark.
As we previously mention that STItraded in a triangle pattern and yesterday it touched its breakout level of 3218. Pattern starts from 19th Sept from the highest high of 3260.14 and then it took support on 3104 level on 8th Oct and again made high which is lower than previous high i.e.3235.25 and then it faced resistance at this level and fell down and took support @ 3163 which is higher than previous low, now its next move may be breakout from this pattern and if it will crossed 3220-3235 then it will definitely move upwards.
| STRAITS TIME LEVELS | |
| Support 1 | 3185 |
| Support 2 | 3165 |
| Support 3 | 3145 |
| Resistance 1 | 3205 |
| Resistance 2 | 3220 |
| Resistance 3 | 3235 |
Market Review:
Singapore shares open at 3204.200 and then it made day high @ 3206.92 but faced resistance at that level and traded on lower side and made day low @ 3188.58 near to its 50& 200 day MA level and finally closed @ 3192.08 with loss of 10.95 points down by 0.34%.
Some 1.69 billion shares, valued at S$892.3 million were traded. Gainers numbered 176 while losers numbered 264.
Market forecast:
STI closed below 3200 level and took support near to its 50 & 200 day Ma level which is 3185.122 & 3185.779.
As we previously mention that STItraded in a triangle pattern and yesterday it touched its breakout level of 3218. Pattern starts from 19th Sept from the highest high of 3260.14 and then it took support on 3104 level on 8th Oct and again made high which is lower than previous high i.e.3235.25 and then it faced resistance at this level and fell down and took support @ 3163 which is higher than previous low, now its next move may be breakout from this pattern and if it will crossed 3220-3235 then it will definitely move upwards. But today index moved down side and took support at its major support level as 50 & 200 day MA levels are about to give cross over so after that maybe we can see clear trend.
Support:
STI having immediate support @ 3185 level and below this level it can take support @3165-3145 will be the support zone for STI.
Resistance:
STI having immediate Resistance @3205 and above this level it may take resistance @ 3220-3235
Technical indicators:
Technical indicators MACD, RSI and CCI are turning from lower.
More articles on Singapore Stock Exchange
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
New Update. Discover investment communities that resonate with your ideas
Trade Confidently & Analyze Charts Conveniently - Download VCPlus IOS & Android App Now!
Latest Videos
Apps
Top Articles
1
RHB Investment Research Reports
2
CEO Morning Brief
Singapore's Core Inflation at Weakest Pace in Almost Three Years
3
CEO Morning Brief
4
5
RHB Investment Research Reports
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
