Singapore Stock Exchange
SGX : STI Technical Analysis Outlook 17th Nov
Alex Gray
Publish date: Mon, 17 Nov 2014, 07:48 PM
Alex Gray
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Market Review for STI:
Share prices opened lower with the Straits Times Index down 4.82 points to 3,310.85.Asian markets mostly fell today with Tokyo tumbling almost two percent after data showed Japan's economy had slipped into recession, while Hong Kong and Shanghai were mixed on the first day of a landmark link-up between the two indexes. On a year-on-year basis, NODX declined by 1.5 per cent in October 2014, in contrast to the 0.9 per cent growth in the previous month, due to a decrease in both electronic and non-electronic NODX. On a y-o-y basis, NODX to all of the top 10 NODX markets, except Thailand, South Korea, Taiwan, Japan, the EU 28 and China, declined in October 2014.
Share prices opened lower with the Straits Times Index down 4.82 points to 3,310.85.Asian markets mostly fell today with Tokyo tumbling almost two percent after data showed Japan's economy had slipped into recession, while Hong Kong and Shanghai were mixed on the first day of a landmark link-up between the two indexes. On a year-on-year basis, NODX declined by 1.5 per cent in October 2014, in contrast to the 0.9 per cent growth in the previous month, due to a decrease in both electronic and non-electronic NODX. On a y-o-y basis, NODX to all of the top 10 NODX markets, except Thailand, South Korea, Taiwan, Japan, the EU 28 and China, declined in October 2014.
| STI Day Performance | |
| Open | 3310.53 |
| High | 3314.23 |
| Low | 3285.60 |
| Close | 3288.67 |
| Change(Points) | -27.00 |
| % Change | -0.81% |
| Volume | 1210.1M |
| Rise | 131 |
| Fall | 302 |
| Unch | 352 |
Market forecast for STI:
As Singapore stock market consist of stocks from other countries also the effect of dip in Japan's economy will result in dipping down of STI.
As Singapore stock market consist of stocks from other countries also the effect of dip in Japan's economy will result in dipping down of STI.
| STI LEVELS | |||||
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3280 | 3270 | 3260 | 3320 | 3330 | 3340 |
Technical Indicators:
RSI is at 54 and CCI is at 63.
RSI is at 54 and CCI is at 63.
| Top Gainers | Top Losers | ||||
| Scrip Name | CMP | %change | Scrip Name | CMP | %change |
| JMH USD.SG | 60 | 1.01 | THAIBEV.SG | 0.715 | -5.92 |
| CITYDEV.SG | 9.59 | 0.84 | OLAM INTL.SG | 2.16 | -4 |
| WILMAR INTL.SG | 3.17 | 0.63 | SEMBCORP MARINE.SG | 3.38 | -2.31 |
| KEPPEL CORP.SG | 9.16 | 0.33 | GOLDEN AGRI-RES.SG | 0.455 | -2.15 |
| JARDINE C&C.SG | 40.63 | 0.32 | DBS.SG | 19.3 | -2.08 |
Important Factor for today:-
- STI are moving towards 3,350 which is a resistance. Current STI is at 3,315 points. The bull is tired but still on top. It is not time to be aggressive buyer and all long positions must be protected with stops.
- OFFSHORE marine services firm Pacific Radiance announced a joint venture had won a long-term charter contract worth over US$140 million (S$181 million).
- PROPERTY giant CapitaLand has entered into a 50-50 joint venture with a subsidiary of Indonesian real estate, auto and mining group Credo Group to develop an integrated development in Central Jakarta.
- NON-OIL domestic exports last month were a tad higher than in September but they dipped 1.5% from a year ago. And the outlook doesn't look good, with leading indicator - non-oil retained imports of intermediate goods - falling from the previous month.
- Linc Energy on Saturday afternoon reported net profit of A$106 million (S$120 million) from a A$40.9 million loss a year ago, for its first quarter ended Sept 30, 2014. This is primarily a result of the sale of the Carmichael Royalty Deed to the Adani Group.
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