Singapore Stock Exchange
Weekly Technical View on Singapore Stright Time Index
Alex Gray
Publish date: Fri, 24 Jan 2014, 07:34 PM
Alex Gray
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Weekly wrap of STI:
Singapore shares tracked losses and heading for their biggest weekly loss in more than 3-1/2 months, Index slipped after disappointing Chinese manufacturing data raised concerns over the economy.
Week starts with flat node and initially traded in very narrow and same range below 50 day MA level, and mid of the week STI crossed its support level and badly fell 3100 mark. STI was opened @ 3137.26 and then it made a high of 3142.05 , and faced resistance at that level and fell down , took support at 3071.28 and finally closed at 3075.99 with loss of 71.34 points down by 2.27% wow basis.
STI Support:
Singapore shares tracked losses and heading for their biggest weekly loss in more than 3-1/2 months, Index slipped after disappointing Chinese manufacturing data raised concerns over the economy.
Week starts with flat node and initially traded in very narrow and same range below 50 day MA level, and mid of the week STI crossed its support level and badly fell 3100 mark. STI was opened @ 3137.26 and then it made a high of 3142.05 , and faced resistance at that level and fell down , took support at 3071.28 and finally closed at 3075.99 with loss of 71.34 points down by 2.27% wow basis.
Macroeconomic factors:
- Singapore inflation eased at averaged 2.4 % for the whole of 2013, "sharply lower" than the 4.6 per cent in 2012, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said in a joint statement.
- Singapore 4Q Private-Home Prices Fall 0.9% on Qtr Vs +0.4% in 3Q.
- Singapore's manufacturing sector expanded by a surprising 6.2%in December compared to a year ago, as a 22.2% jump in electronics output helped to offset a 14.9 % contraction in the biomedical manufacturing cluster. Excluding the volatile biomedical sector, industrial production would have grown an even stronger 12.1% year-on-year.
- Singapore's private home prices fall first time since Q1 2012, down 0.9% in Q4
| Supp 1 | Supp 2 | Supp 3 | Res 1 | Res 2 | Res 3 |
| 3060 | 3030 | 3010 | 3115 | 3135 | 3150 |
| STRAIT TIMES WEEKLY WRAP | |
| OPEN | 3137.26 |
| HIGH | 3142.05 |
| LOW | 3071.28 |
| CLOSE | 3075.99 |
| CHANGE (In Points) | -71.34 |
| % CHANGE | -2.27% |
Weekly Technical view on STI
Market Forecast for week ahead:
STI faced tremendous resistance at its 3140-45 mark this week, index didn't even crossed its 50 week MA and fell badly below 3115 mark and crossed 3100.
STI formed long black candle which is highly bearish candlestick pattern. This is a single and strong candle which denotes more bearishness. It visually indicates a transfer of power and sentiment from the bulls and the bears.
For the coming week we can expect some more downward if STI will continue to sustain below 3100 and next level for bearish move will be 3050-3015.
STI Resistance:
STI having Resistance @ 3115 and above this level it may take resistance from 3135-3150 levels.
STI Support:
STI having nearest support @ 3060 below this 3030-3010 will be the support area for market.
Technical Indicators:
Technical indicators are in downtrend .MACD, RSI and CCI all are moving down.
Technical indicators are in downtrend .MACD, RSI and CCI all are moving down.
Corporate Action & Result Calendar as on 27thJanuary 2014
| Company Name | Type | Expiry Date | Record Date | Date Paid/Payable | Particulars | |
| ASCOTT RESIDENCE TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 27 Feb 2014 | 010713 - 311213 SGD 0.00269 TAX EXEMPT | |
| ASCOTT RESIDENCE TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 27 Feb 2014 | 010713 - 311213 SGD 0.02814 | |
| ASCOTT RESIDENCE TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 27 Feb 2014 | 010713 - 311213 SGD 0.00615 LESS TAX | |
| CACHE LOGISTICS TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 25 Feb 2014 | 011013 - 311213 SGD 0.0003 | |
| CACHE LOGISTICS TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 25 Feb 2014 | 011013 - 311213 SGD 0.02107 LESS TAX | |
| FRASERS CENTREPOINT TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 28 Feb 2014 | 011013 - 311213 SGD 0.025 LESS TAX | |
| JAYA HOLDINGS LTD | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 12 Feb 2014 | SGD 0.01 ONE-TIER TAX | |
| MAPLETREE INDUSTRIAL TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 06 Mar 2014 | 1OCT-31DEC, DRP SGD 0.0014 | |
| MAPLETREE INDUSTRIAL TRUST | DIVIDEND | 27 Jan 2014 | 29 Jan 2014 | 06 Mar 2014 | 1OCT-31DEC, DRP SGD 0.0237 LESS TAX | |
| OSIM | Full Year Results | | | | | |
| Chosen | Half Year Results | | | | | |
| China Essen | 3rd Quarter Results | | | | | |
| Chew's Gp | AGM | | | | | |
| Keong Hong | AGM | | | | | |
| F & N | AGM & EGM | | | | | |
| China Fish | AGM & EGM | | | | | |
| Marco Polo | AGM & EGM | | | | | |
| Pac Andes | SGM & AGM | | | | | |
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