Singapore Stock Exchange
Singapore STI Weekly Technical Analysis
Alex Gray
Publish date: Fri, 21 Feb 2014, 08:45 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.
Weekly wrap of STI:
For the third week of February the STI still continues to be in uptrend & the trend seems to continue further as all the major resistance that we have forecasted in the last weekly report of 14 Feb 2014 has been broken positively for this week and our last weekly report hit accurately on our forecasted levels
As the uptrend start from 3048 the opening level at 17th Feb. and then the STI made the high of 3109.80 for this week and closed at 3099.93. For this week the market covered the movement of almost 65 points. Observing the candle & the chart formation the market has recovered from the downfall that came on 23 Jan 2014.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3070 | 3050 | 3020 | 3115 | 3145 | 3165 |
Macroeconomic factors:
- The Gross Domestic Production rate in Singapore was announced at 6.10% in the Q4 2013. The average growth rate for last 6 years was 5.56%
- Singapore's fourth-quarter home prices slid for the first time in almost two years to 72% to 565 units
- Australia based Seek Ltd world's largest online employment market place by revenue announced A$380.7million a 38% jump in turnover,
- Singapore government proposed Trans boundary Haze Pollution Bills with a criminal penalty of up to S$300,000
- Singapore Domestic wholesale trade increased 3.3% in Q4 Dec 2013, general wholesale trade sec made the largest growth of 32.7% for Q4 Dec 2013 On YOY basis.
- 8.6% of growth in new business formation in Singapore for the Q4 Dec 2013, around 14,500 new businesses was formed in Singapore.
- More over the week was full of results like Ezion Holding, Biosensors, Capitaland, etc that gave a good support to the recovery of the STI. Major sector supported by the volume were Service & Manufacturing.
Market Forecast for week ahead:
For continues 3rd week of winning strike, STI closed higher side with bullish outlook for coming week too.STI made week high above 3100 mark @ 3109.80 mark just below its 20 week MA level of 3014.
STI formed a long white candle as Index move low to high, STI opens lower and then it continuously cross resistance levels one by one and now trading near to 3100 level and if it shows same movement in next week we will see major resistance @ 3015 level.
For coming week STI may remain upside whenever it traded above 3050 mark, its major resistance will come @ 3115-3145 level. Also Singapore budget declaration will effect on coming week on Singapore equities.
STI Resistance:
STI having immediate Resistance @3115 and above this level it may take resistance @ 3145-3165
STI Support:
STI having immediate support @ 3070 level and below this level it can take support @3050-3020 will be the support zone for STI.
STRAIT TIMES WEEKLY WRAP | |
| OPEN | 3048.70 |
| HIGH | 3109.80 |
| LOW | 3044.50 |
| CLOSE | 3099.93 |
Technical Indicators:
Technical indicators MACD given its bullish crossover in Daily chart, RSI and CCI are trading in recovery mode, RSI is in oversold zone so we can expect recovery in it.
Corporate Action & Result Calendar as on 24th Feb 2014
| Company Name | Type | Expiry Date | Record Date | Date Paid/Payable | Particulars |
| China Fish | Ex-Dividend | 26 Feb 2014 | 07 Mar 2014 | ||
| Croesus RTr | Ex-Dividend | 26 Feb 2014 | 31 Mar 2014 | ||
| Silverlake | Ex-Dividend | 26 Feb 2014 | 14 Mar 2014 | ||
| Swing Media | Ex-Dividend | 26 Feb 2014 |
More articles on Singapore Stock Exchange
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
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....
