Singapore Stock Exchange

Weekly Technical & Analytical view on Singapore STI

Alex Gray
Publish date: Fri, 31 Jan 2014, 08:01 PM
Alex Gray
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Weekly wrap of STI:
Singapore shares ended lower for January 2014 tracking falls in the wider region after manufacturing data from China disappointed and the U.S. Federal Reserve made another cut to bond buying. (Trading Tips)
Week starts with huge gap @ 3038.99 and then it made week High @ 3068.05 and then it fell badly again and took support on week low of 3012.26 and finally closed 3021.98 with loss of 54.81 points down by 1.76% wow basis.

STRAIT TIMES WEEKLY WRAP
OPEN
3038.99
HIGH
3068.05
LOW
3012.26
CLOSE
3021.98
CHANGE (In Points)
-54.81
% CHANGE
-1.76%

Macroeconomic factors:

  • Singapore December M1 Money Supply Rises Marginally to S$154.60 Bln.

  • Singapore inflation eased at averaged 2.4 % for the whole of 2013, "sharply lower" than the 4.6 % in 2012, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said in a joint statement on Thursday.
Market Forecast for week ahead:
  • STI faced free fall in this week, fell below its 200 week MA level of 3021.69 and looking more week.
  • STI formed candlestick pattern called Falling Window as opened with huge gape, so made a window between previous week low and this week high level and this difference called Falling window. This pattern is bearish pattern and can move more down side.
  • For the coming week we can expect some more downward if STI will continue to sustain below 3015 and next level for bearish move will be 61.8% retracement i.e. 2975 level.
  • Singapore Purchasing Managers' Index (PMI) will be announce on 5th Feb 2014.
S 1
S 2
S 3
R 1
R 2
R 3
3015
2975
2950
3050
3075
3095

STI Resistance:
  • STI having Resistance @ 3050 and above this level it may take resistance from 3075-3095 levels. (free trading Signals)
STI Support:
  • STI having nearest support @ 3015 below this 2975-2950 will be the support area for market. (Trading Tips)
Technical Indicators:
Technical indicators are in downtrend .MACD, RSI and CCI all are moving down.
Corporate Action & Result Calendar as on 3rdFeb 2014
Company Name
Type
Expiry Date
Record Date
Date Paid/Payable
Particulars
SIA Engg 3rd Quarter Results



GDS GLOBAL LIMITED DIVIDEND 03 Feb 2014 05 Feb 2014 24 Feb 2014 SGD 0.007 ONE-TIER TAX
MERMAID MARITIME PUBLIC CO LTD DIVIDEND 03 Feb 2014 05 Feb 2014 21 Feb 2014 USD 0.0086 LESS TAX
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