Singapore SGX : Technical Analysis Report

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Publish date: Tue, 07 Jul 2015, 07:10 PM

Market Review for STI: Singapore share prices opened stronger, with the STI up 9.94 points or 0.3 per cent to 3,342.88, ahead of an emergency meeting of European leaders and finance ministers on Greece. STI came off from its intra-day peak of 3346.48 and low of 3340.93. Volume amounted to 716.4 million shares.
Singapore shares traded sideways, against a backdrop of mixed performance from other Asian bourses. Meanwhile, mainland Chinese markets extended declines as investors wind down margin trades. Singapore shares continued to dither between gains and losses, amid a mixed performance in other Asian bourses.
Singapore will provide advance estimates of gross domestic product (GDP) for the second quarter at 8 am on July 14. Singapore Exchange welcomes Noble's decision to carry out a review of its mark-to-market models and valuations as this will address and help bring closure to questions raised by the market on this issue.

STI Day Performance
Open	3342.20
High	3346.48
Low	3327.70
Close	3340.93
Change(Points)	+7.99
% Change	+0.24%
Volume	1171.9 M
Rise	172
Fall	210
Unch	433

Market forecast for STI: STI is expected to take side ways trend. If it breaks its resistance level of 3360, it might take bearish trend.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3317	3290	3262	3361	3387	3465

Technical Indicators:RSI is below the center line at 48.959 CCI is at 53.416. Difference line of MACD performed at --13.482 below its signal line which performed at -20.333.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
CITYDEV	9.9	2.38	ASCENDAS REIT	2.44	-2.58
COMFORTDELGRO	3.02	1.17	CAPITALAND	3.53	-2.23
DBS	20.98	0.99	CAPITAMALL TRUST	2.19	-1.3
GENTING SING	0.905	0.97	CITYDEV	9.9	-1.23
GLOBAL LOGISTIC	2.51	0.92	COMFORTDELGRO	3.02	-0.8

Important Factor for today:-

Malaysia plans to cut more subsidies and move billions of dollars in government employee housing loans off its balance sheets to bolster its fiscal position, even as a growing scandal threatens Prime Minister Najib Razak's ability to implement potentially unpopular policies.
China's stocks fell early Tuesday, casting doubt on the potency of Beijing's aggressive rescue efforts, while investors elsewhere in Asia appeared to shrug off concerns over Greece's debt situation.
Athens stock exchange will remain closed until Wednesday, the Greek Capital Markets Commission said, in line with the closure of the country's banks as Greece races to avert bankruptcy and remain in the euro.
European shares steadied on Tuesday after slipping in the previous session, with investors focussed on crunch talks over the Greek debt crisis at a euro zone summit later in the day.
Indonesia's government will not introduce new taxes or raise existing ones this year in order to achieve its revenue collection target, a finance ministry official said on Tuesday, raising prospects of a wider fiscal deficit unless spending is cut.
European stock and bond markets steadied on Tuesday before a euro zone leaders summit to discuss the Greek debt crisis while a further fall in Chinese shares reminded investors of other dark clouds on the horizon. Oil recovered some ground after Monday's stomach-churning selloff prompted by Greeks' overwhelming rejection of the terms of a bailout deal and the Chinese stock markets turmoil.
Japanese stocks came bouncing back Tuesday morning, shrugging off foreign selling and a negative cue from the U.S. to focus instead on stock-positive drops for oil and the yen.
Oil futures sank to their lowest settlement in nearly three months Monday, as traders fretted the fallout from Greek turmoil as well as a potential Iranian nuclear deal, which may result in a flood of millions of barrels of oil to global supplies.

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