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SGX Outlook: STI Technical Review 04 Aug

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Publish date: Mon, 04 Aug 2014, 07:31 PM
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Following Message
Market Review for STI:
SINGAPORE share prices opened lower with the STI down 5.17 points to 3,339.85. The impact of US data which came negative still continues over the prices of STI .Close of the day was observed at 3314.63 and the high for the day was observed at 3341.12.The prices are above the 50 days EMA and below the 20 days EMA.
STI Day Performance
Open
3339.85
High
3341.12
Low
3313.91
Close
3314.63
Change(Points)
-29.79
% Change
-0.89%
Volume
1790.6M
Rise
90
Fall
381
Unch
636
Market forecast for STI:
Technically, the prices are in downtrend and may take the support on 3306 and can move up .We may expect the uptrend only after the level of 3320 .Indicators are also showing a bearish trend.
STI LEVELS
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
3306
3280
3260
3330
3350
3380
Technical indicators:
RSI is at 50.211 and CCI is at 18.86 .MACD indicating the level of 17.54.
Top Gainers
Top Losers
Scrip Name CMP %change Scrip Name CMP %change
JSH 500 USD 35.94 1.1 SingTel 3.86 -3.74
ThaiBev 0.62 0.81 HPH Trust USD 0.695 -2.8
ComfortDelGro 2.58 0.78 StarHub 4.16 -1.42
JMH 400 USD 59.46 0.71 SIA Engineering 4.61 -1.28
ST Engineering 3.8 0.26 UOB 22.9 -1.21
Important Factor for today:-
  • Asian shares, as concerns over geopolitical tensions and Argentina's debt default eclipsed US economic data that argued against an earlier start to the Federal Reserve's rate-tightening cycle.
  • Fitch's Rating says, the decision by the Monetary Authority of Singapore (MAS) to launch a commission-free life insurance sales programme is credit positive for the Singapore life insurance sector.
  • GIC believes emerging markets now offer better value than developed ones and is particularly interested in exploring increasing investments in their technology sectors.
  • Singapore will introduce a minimum price for main board shares and reduce the lot size for transactions after a slump in the stocks of three commodity companies erased US$6.9 billion ($8.6 billion) in market value over three days in October.
  • Singapore will implement wide-scale reforms to its equity market rules following a penny-stock scandal last year, its central bank and stock exchange announced on Friday.
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