Singapore Stock Exchange

Weekly Technical View on STI & KLCI

Alex Gray
Publish date: Sat, 28 Jun 2014, 04:55 PM
Alex Gray
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Weekly wrap of STI:
STI Share prices opened lower in early trading session with STI down 6.71 points to 3271.86. Performance for this week maintained an uptrend and formed a rounded bottom pattern with previous week's candlesticks. 
STI Day Performance
Open 3262.17
High 3279.37
Low 3254.26
Close 3271.05
Change(Points) 12.25
% Change 0.37%
Volume 1539.3M
Rise 182
Fall 188
Unch 724
Market Forecast for week ahead:
This whole week prices formed a white spinning top and today's price formed long legged Doji in red market, both the candlestick's pattern signal indecision. Unexpected price movements may happen.
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3220 3180 3160 3310 3350 3382
Technical Indicators:
RSI stood at 59.041 with CCI at 60.542. And difference line of MACD (38.544) is above its signal line (31.518).
Macroeconomic factors:
  • Singapore's Manufacturing Sector has slipped to 2.5% in May due to drops in both the electronics and biomedical manufacturing clusters.
  • SGX announced proposals for a new regulatory framework for global companies to seek a secondary listing.
  • Singapore's state government signed a protocol agreement with Russia to continue expanding cooperation between Singapore and St Petersburg in sectors viz transport, science parks, urban planning, e-government and training programmes.
  • Singapore's gold futures contract on SGX to start trading September 2014.
  • Singapore's inflation rose to 2.7% in May.
Weekly wrap of KLCI:
Malaysian share prices opened on a mixed note today with KLCI down 0.63 points to 1889.34. Continued to trade lower in mid-morning weighed by losses in Public Bank and PETRONAS linked companies. Malaysia ranked 7th top FDI recipient in Asia on the scale of investments in manufacturing, services and primary sectors in 2013.
FBMKLCI Day Performance
Open 1884.74
High 1892.33
Low 1880.25
Close 1880.93
Change(Points) -4.79
% Change -0.25%
Volume 1644.1M
Rise 371
Fall 393
Unch 1448
KLCI performed a range bound traded session this whole week but quite well from previous week. Today, it opened at 1884.74, performed within a range of 12 points. Prices went down as sellers dominated buyers and closed at 1880.93 points. Market has been in a consolidated phase this week. From the perspective of whole week, KLCI performed low on an account of previous 2 week price movements. A weekly chart showed that KLCI focused on lower price movements and made an inverted hammer pattern with along uptrend which anticipates bearish reversal.
Market Forecast for week ahead:
After performing a sideway price movements in the whole week, a long red candle was formed for the day ending. We may expect a fall in prices of KLCI stocks which leads to make a downtrend for KLCI next week.
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
1868 1850 1840 1889 1892 1900
Technical indicators:
RSI for this week is 62.139 with CCI at 109.413. Besides, difference line of MACD (18.655) stood above its signal line (18.154).
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