Singapore Stock Exchange

STI Daily Technical Analysis Report

Alex Gray
Publish date: Wed, 05 Mar 2014, 08:47 PM
Alex Gray
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Market Review:
Today as the third trading session of the week the market still maintain the uptrend and the investor also looks seems to be positive for this, which can be observed by the volume in the market.
STI opened high at 3113.15 around 7 points up and closed high at 3116.04, ending the session with a green candle.
STI Day Performance
Open
3078.29
High
3116.64
Low
3067.24
Close
3116.64
Change(Points)
-16.71
% Change
-0.539
Volume
2105.2
Rise
211
Fall
205
Unch
380
Market forecast:
STI recovers for 3rd straight day and traded above 3105 level, however the trading range was very low for the day it was only 8 points after gap up opening.
STI trading well above its 50 & 20 day EMA level of 3090 & 3083 level, it's a positive sign for STI, 20 day EMA is continuously increasing and trading very near to its 50 day EMA . we can expect crossover of longer period from lower side by short period i.e 20 day EMA, can cross 50 Day EMA from lower side which is positive sign for Index , if it will happen then we can see more bullishness in Index.
As we previously mention for coming days we see some turn around movements as the 4Q13 earnings season is heading towards the end, and investors' attention to key economic events in the US such as Unemployment Rate and Non-farm Payroll.
Support level: STI having immediate support @ 3095 level and below this level it can take support @3080-3065 will be the support zone for STI.
Resistance: STI having immediate Resistance @3120 and above this level it may take resistance @ 3135-3150
STRAITS TIME LEVELS
Support 1
3095
Support 2
3080
Support 3
3065
Resistance 1
3120
Resistance 2
3135
Resistance 3
3150
Technical indicators:With the recovery now Technical indicators MACD trading in bullish zone in Daily chart , RSI crossed its centreline zone and trading above 50 @ 59.9 and CCI @ 90.999
Important Factor for today:-
  • Securities were trading down by 7% in Feb Where as STI said today that the security trading fell by 35% to S$20.9Billion. Daily average value of trading fell 41% to S$1Billion as more trading session in Feb2013.
  • Loyz Energy to buy 20% of Norwegian oil and gas firm
  • Today Ezara Holding is awarded subsea construction and offshore support contracts and options in Asia Pacific and West Africa worth over US$125 million.
  • Amtek buys US firm in S$267M deal.
Top 5 Gainers
Top 5 Loosers
Scrip Name
 CMP
 %change
 Scrip Name
 CMP
 %change
JMH 400US
60.000
3.448
 UOB
 20.530
 -1.203
JSH 500US
34.660
3.155
 DairyFarm 900
 9.020
 -1.313
Jardine C&C
40.000
2.564
 DBS
 16.210
 -0.735
OSIM
2.510
4.583
 Shang Asia
 12.880
 -0.923
SIA
10.240
0.887
 GreatEast
 17.980
 -0.333

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