SGX Singapore Stocks & Forex Live Picks
STI Singapore Weekly Outlook for 23-27 Sept. 2013
Your Advisor
Publish date: Sat, 21 Sep 2013, 07:27 PM
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Weekly Summary:
Singapore
shares edged up, and made its 7 weeks high this week above 3250 mark.
After the US Federal Reserve decided to continue with its monetary
stimulus programme.
Week
starts with gap up opening in STI @3151.40 and then STI continuously
opened with gap whole week and finally made week high above 3250
level @ 3260.14 , finally week ended @ 3237.53 with gain of 117.23
points up by 3.75% wow basis.
Macro-economic News:
Singapore's
August non-oil domestic exports (NODX) surprised a generally
optimistic market consensus (+2.4% y/y) on the downside and
posted a contraction of 6.2% y/y, worse than a revised 1.9% y/y
contraction seen a month ago. The contraction was due to weak
performance seen in both electronic exports (-9.2% y/y) and
non-electronic exports (-4.7% y/y).
Market
Forecast for week ahead:
- STI made its 7 week high mark in this week, in the hope of some positive new from U.S government. Also now this level STI looks Bullish if it maintains the 3200 mark.
- STI formed a big green candle, opens well above its previous candle and closed with good gain. It is a highly bullish candle, but we cannot interpret further bullishness whenever the next candle will not confirm the trend.
STI
Resistance:
STI
Support:
- STI having nearest support @ 3210 below this 3180-3130 will be the support area for market.
Technical
Indicators:
Technical
indicators are giving positive impression.
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