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SGX Review : STI Technical Analysis 4th Nov

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Publish date: Tue, 04 Nov 2014, 07:50 PM
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Market Review for STI:
Share prices opened lower with the Straits Times Index down 3.45 points to 3,287.39. Asian markets were mixed today following a soft lead from Wall Street, with Tokyo tacking on another huge set of gains after last week's surprise monetary easing by the Bank of Japan. Shares ended 0.28 per cent lower with the Straits Times Index slipping 9.27 points to 3,281.57. Get Free Signals
FBMKLCI WEEK's Performance
Open
3292.10
High
3293.61
Low
3278.42
Close
3281.57
Change (Points)
-9.27
% Change
-0.28
Volume
1869M
Rise
167
Fall
237
Unch
388
Market forecast for STI:
STI may dip down to the level of 3260 and then move up and may be in a range of 3240-3260.
STI LEVELS
Support 1
Support 2
 Support 3 Resistance 1 Resistance 2 Resistance 3
3270 3260 3245 3300 3320 3340
Technical Indicators:
RSI is at 52.47 and CCI is at 46.
Top Gainers
Top Losers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
JARDINE C&C.SG 39.83 0.96 OLAM INTL.SG 2.04 -3.77
DBS.SG 18.95 0.69 SEMBCORP MARINE.SG 3.65 -2.41
CITYDEV.SG 9.53 0.63 GLOBAL LOGISTIC.SG 2.69 -1.82
OCBC BANK.SG 10.01 0.6 GENTING SING.SG 1.085 -1.81
ST ENGINEERING.SG 3.77 0.27 NOBLE.SG 1.185 -1.66
Important Factor for today:-
  • COSCO Corp reported a 17% YoY rise in revenue to S$1.16b and a 69% increase in net profit to S$7.1m in 3Q14, such that 9M14 net profit accounted for 76% and 69% of ours and the street's estimates, respectively. On a YoY basis, profit was higher due to lower provisions on construction contracts (S$10.6m in 3Q14 vs S$33.9m in 3Q13); a less aggressive depreciation policy also aided bottom-line. However, gross profit margin dropped significantly from 7.4% in 3Q13 to 4.9% in 3Q14 with the execution of lower margin contracts.
  • Chip Eng Seng Corporation on Monday said it has won a S$232.8 million contract through its wholly owned subsidiary. The contract was awarded by the Housing & Development Board for the construction of nine blocks of residential buildings and other community facilities. The construction period is about 42 months.
  • OUE Hospitality Trust (OUEHT) reported its 3Q14 results which exceeded its IPO prospectus projections marginally, but was within our expectations. Gross revenue came in at S$28.5m, of which S$19.2m and S$9.3m was contributed by its Hospitality (Mandarin Orchard Singapore) and Retail (Mandarin Gallery) segments, respectively.
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