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Singapore Stock Technical Analysis 15 July

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Publish date: Tue, 15 Jul 2014, 08:33 PM
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Market Review for STI:
Share prices opened higher at 3296.540 with STI 5.56 points up. Singapore's economy contracted in April to June for the first time in seven quarters, hit by a sharp drop in manufacturing activity and the drop to alter the outlook for the city-state's tight monetary policy. Gross domestic product shrunk by 0.8% in the 2nd quarter on a seasonally adjusted and annualised basis. The impact is eventually seen in the market. It gave a closing at 3291.420 below the opening.
STI Day Performance
Open
3296.540
High
3297.070
Low
3286.280
Close
3291.420
Change(Points)
+0.440
% Change
+0.01%
Volume
1394.6M
Rise
184
Fall
204
Unch
395
Market forecast for STI:
Since, very small movement is seen in the market from last week .We may expect the same for further more time ,moving in a range of 3265-3295.The level of 3300 may act a level from which the index may boost .
STI LEVELS
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
3280
3265
3240
3300
3325
33540
Technical indicators:RSI is above the center line @56.503 .CCI is @130.849 .Indicators are also not that supportive for the index .
Top Gainers
Top Losers
Scrip Name
 CMP
 %change
 Scrip Name
 CMP
 %change
Golden Agri-Res
 0.545
 0.93
 HongkongLand USD
 6.68
 -2.2
Jardine C&C
 45.9
 0.9
 JSH 500 USD
 35.64
 -1.82
Ascendas Reit
 2.32
 0.87
 JMH 400 USD
 59.22
 -1.07
OCBC Bank
 9.56
 0.84
 SPH
 4.13
 -0.72
SingTel
 3.91
 0.77
 StarHub
 4.14
 -0.48
Important Factor for today:-
  • Non-residential deals will continue to drive investment activity in Singapore for the rest of this year.
  • Viking offshore and Marine have won a 50 month contract worth US$32 million. Shares in the firm raised 2.4% (0.3 Singapore cents to 12.8 cents).
  • CCM Group will hold an extraordinary general meeting (EGM) on Aug 5 to get shareholder's nod for a rights issue, change its name and diversify into information technology.
  • OLAM International, Qian Hu, ST Engineering, Otto Marine and Ezion all had recent developments that could affect trading activity. Olam International banged its US$2 billion euro medium term note programme to US$5 billion. Qian Hu's net profit for its 2nd quarter ended June 30 was $22,000, down 73.5% from a year ago.
  • An arm of ST Engineering, ST Aerospace has won new contracts of five year agreement with a regional US airline for heavy maintenance of 42 Embraer E-170 and E-175 aircraft at the aerospace sector's San Antonio facility worth S$520 million in the 2nd quarter of 2014.


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