Singapore Stock Exchange

Trading Updates: STI Technical Analysis Review 6 April

Alex Gray
Publish date: Mon, 06 Apr 2015, 07:34 PM
Alex Gray
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Market Review for STI: Shares slipped 1.27 points, or 0.04 per cent, to 3,452.48 as on the back of a decline in US stock futures on weak jobs data released on Friday. As Asian shares rose and the dollar dropped on Monday, after a dismal US jobs report pushed up US Treasury yields as investors pared bets the US Federal Reserve would hike interest rates anytime soon.
STI ChartSTI Day Performance
Open: 3451.73
High: 3458.18
Low: 3451.28
Close: 3452.91
Change(Points): 0.84
% Change: 0.02%
Volume: 1939.0M
Rise: 256
Fall: 153
Unch: 376
Market forecast for STI: We may expect bullish rally in next trading session.
Straits Time Levels
Support 1: 3400
Support 2: 3374
Support 3: 3360
Resistance 1: 3469
Resistance 2: 3456
Resistance 3: 3458
Technical Indicators: RSI is at 63 and CCI is at 107.
Top Losers: sia.sg, sph.sg, hph trust usd.sg, sembcorp marine.sg, sgx.sg
Top Gainers: golden agri-res.sg, jardine c&c.sg, genting sing.sg, noble.sg, capitamall trust.sg
Important Factors for today:-
  • Oil prices rose more than US$1 a barrel in early Asian trade, as last week's framework deal between Iran and global powers on Tehran's nuclear programme offers little chance for any significant increase in exports until 2016.
  • The value of stocks traded daily on the Singapore Exchange fell last month from February and stagnated compared to March 2014.
  • Banks and credit card companies in Singapore have teamed up to launch a scheme to help highly leveraged borrowers ease their debt burden.
  • Market breadth in Singapore remained positive, with almost two gainers for every decliner.
  • Small caps mostly outperformed blue chips, which generally stagnated as investors held back ahead of the March-quarter earnings season, which starts next week.
  • Singapore's central bank is likely to ease monetary policy further this month by re-centring its exchange-rate band lower to help support the local economy, which is slowing down and grappling with deflation.
  • A 9.7% y-o-y fall in Singapore's exports in February has given rise to the risk of a contraction in the domestic economy in 1Q2015.
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