Singapore Stock Exchange
STI & KLCI Stock Market Technical Analysis
Alex Gray
Publish date: Mon, 02 Jun 2014, 07:49 PM
Alex Gray
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Market Review for STI:
STI opens 6.18 points high then the previous close @3303.23 ,high was marked @3305.35 for the day and closed @3302.24.The major trend is uptrend but today was in minor downtrend and then again prices followed the uptrend .
STI opens 6.18 points high then the previous close @3303.23 ,high was marked @3305.35 for the day and closed @3302.24.The major trend is uptrend but today was in minor downtrend and then again prices followed the uptrend .
STI Day Performance | |
| Open | 3303.23 |
| High | 3,305.350 |
| Low | 3,293.120 |
| Close | 3,302.240 |
| Change(Points) | +6.390 |
| % Change | +0.19% |
| Volume | 1395.7M |
| Rise | 188 |
| Fall | 228 |
| Unch | 367 |
Market forecast for STI:
STI formed a red candle for the day with a small real body and a small upper shadow, and a comparatively long lower shadow. The volume indicates the buying pressure but still the lower closing of the candle indicates a selling pressure too .In such case the buyer and seller are equally aggressive and may take the market in either buying or selling zone . The opening candle of the next day may clear the sentiments.
STI formed a red candle for the day with a small real body and a small upper shadow, and a comparatively long lower shadow. The volume indicates the buying pressure but still the lower closing of the candle indicates a selling pressure too .In such case the buyer and seller are equally aggressive and may take the market in either buying or selling zone . The opening candle of the next day may clear the sentiments.
Technical indicators:
RSI is above the centre line @64.55, where CCI @157.72
| STI LEVELS | |
| Support 1 | 3295 |
| Support 2 | 3285 |
| Support 3 | 3275 |
| Resistance 1 | 3309 |
| Resistance 2 | 3320 |
| Resistance 3 | 3330 |
- Asian markets on rise .The Euro faced a pressure because of the monetary policy while the dollar was firm this week.
- According to Singapore Commercial Credit Bureau (SCCB) the commercial prompt payment declined sharply in Q1, it reversed the uptrend from the preceding quarter.
- Oil prices high in Asian trade today because of strong Chinese manufacturing activities.
- Tiger Airways Holdings marked a sharp decline in prices in more than four months .The stock dropped 8.5%, it was the biggest intraday drop since January 24 .It made a seven months high and jumped 21 %.
- Swing Media Technology Group posted record earnings of HK$83.13 million ($13.45 million) for the fiscal year ended March 31.
| Top Gainers | Top Loosers | ||||
| Scrip Name | CMP | %change | Scrip Name | CMP | %change |
| SPH | 4.17 | 1.71 | Olam Intl | 2.3 | -1.71 |
| ThaiBev | 0.64 | 1.59 | HPH Trust USD | 0.74 | -1.33 |
| Noble | 1.4 | 1.08 | Golden Agri-Res | 0.57 | -0.87 |
| SGX | 6.96 | 1.02 | CapitaMall Trust | 2.06 | -0.48 |
| Wilmar Intl | 3.24 | 0.94 | HongkongLand USD | 6.99 | -0.43 |
Market Review for KLCI:
KLCI opened low by 4.91 points @ 1867.80.The high was marked @1876.17 and the low for the day was marked @1861.48.The overall trend is up while from the last 10 days the trend is down . With a minor uptrend it is again expected to reverse .
KLCI opened low by 4.91 points @ 1867.80.The high was marked @1876.17 and the low for the day was marked @1861.48.The overall trend is up while from the last 10 days the trend is down . With a minor uptrend it is again expected to reverse .
| KLCI Day Performance | |
| Open | 1867.8 |
| High | 1876.17 |
| Low | 1861.48 |
| Close | 1864.25 |
| Change(Points) | -9.130 |
| % Change | -0.49% |
| Volume | 1395.7M |
| Rise | 188 |
| Fall | 228 |
| Unch | 367 |
Market forecast for KLCI:
KLCI formed a red candle for the day with a long upper shadow and a real body which indicates that the market is down .If it breaks the level of 1862 then it may decline more .The inverted hammer formed on the previous day indicates a reversal of trend.
KLCI formed a red candle for the day with a long upper shadow and a real body which indicates that the market is down .If it breaks the level of 1862 then it may decline more .The inverted hammer formed on the previous day indicates a reversal of trend.
| KLCI LEVELS | |
| Support 1 | 1861 |
| Support 2 | 1855 |
| Support 3 | 1845 |
| Resistance 1 | 1872 |
| Resistance 2 | 1887 |
| Resistance 3 | 1897 |
Technical indicators:
RSI is just below the centre line @47.12 where the CCI is performing at -38.78
| Top Gainers | Top Loosers | ||||
| Scrip Name | CMP | %change | Scrip Name | CMP | %change |
| GENM | 4.22 | 3.69 | PETDAG | 24.48 | -3.01 |
| FGV | 4.34 | 2.36 | PETGAS | 23.82 | -2.78 |
| GENTING | 9.9 | 1.75 | PBBANK | 21.14 | -2.13 |
| IOIPG | 2.52 | 1.61 | CIMB | 7.22 | -1.64 |
| IHH | 4.17 | 1.46 | AMBANK | 7.24 | -1.36 |
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