STI Singapore Stock Market Outlook 01-Aug 2013

Market Reviews:

STI index's opening gain was in line with similar bounces in Hong Kong, Japan and Europe's opening, possibly as traders sought to position themselves ahead of the US Federal Open Market Committee (FOMC) meeting yesterday and today, and the US jobs report on Friday.

STI opens lower @ 3242.45 and then it made day low 3226.45, and then recovers from that lower level and made day high @ 3246.94. Finally closed @ 3221.93 lowest level of the day with loss of 23.52 points down by 0.72%.

According to the Ministry of Manpower Unemployment rate in Singapore jumped to 2.1%.Preliminary estimates show that the seasonally adjusted overall unemployment rate was 2.1% in June 2013, up from 1.9% in March 2013 and 1.8% in December 2012.

Market forecast:

STI trading below its up slopping supports line; today it traded lower levels and closed just near to support of 3220.

STI forming candlestick pattern called Black Marubozu pattern a characterized by a long black body, having no shadows on either end and with an extremely strong bearish candlestick pattern. Black marubozu shows that the prices moved down all day long after the opening and the day closing at its lowest level.

The black marubozu pattern has low reliability.Reflecting only one day’s trade with a potential to signal both continuation and reversal, it must be used with other candlesticks for the confirmation of a trend.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 3230 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3250 and above this level it may take resistance @ 3265-3280 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 55.604 and CCI recovers again and trading @ 61.71

Singapore Stock Market Forecast 31-July 2013

Market Reviews:

STI rebounded from the previous day's losses on bargain buying in cautious trade ahead of a closely watched policy meeting at the Federal Reserve.

STI opens 3238.81 and made day high at 3258.56 but after making this high STI suddenly crashed and made day low @ 3222.56  and recovers from that level , finally closed @ 3245.45 with gain of 8.48 points up by 0.26%.

Some 2.19 billion shares, valued at S$1.22 billion were traded. Gainers numbered 195 while losers numbered 202.

Market forecast:

STI trading below its up slopping supports line as yesterday it fell below this line. Still today it recovers some points from previous trading day.

STI forming candlestick pattern called white spinning tops, White Spinning Top candle is a single candlestick pattern, with a small white body. Where the upper and lower shadows that have a greater length than the body's length. The white spinning top pattern shows that the market moving higher and then sharply lower, or vice versa, closes above the opening price. Thus, creating a white body, representing complete indecision between the bulls and the bears.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 3230 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3250 and above this level it may take resistance @ 3265-3280 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 55.604 and CCI recovers again and trading @ 61.71

STI Singapore Market Outlook for 30-July

Market Reviews:

With other Asian markets STI also fell on 1st trading day of this week, before policy meetings of the US and European central banks.

STI opens lower @ 3233.69 and then made a day low @ 3218.58 and took support at this level, after taking support it recovers and made day high 3237.93. Finally closed @ 3236.97 with gain of 0.87 points, up by 0.03%.

Some 1.76 billion shares, valued at S$911.4 million were traded. Gainers numbered 152 while losers numbered 282.

Market forecast:

STI fell below its up slopping channel and closed just at breakout point, also took support just near to 3220 level and closed in positive node.

STI forming candlestick pattern called Hammer, candlestick formation is a significant bullish reversal candlestick pattern that mainly occurs at the bottom of downtrends. The Hammer formation is created when the open, high, and close are roughly the same price. Also, there is a long lower shadow, twice the length as the real body.

When the high and the close are the same, a bullish Hammer candlestick is formed and it is considered a stronger formation because the bulls were able to reject the bears completely plus the bulls were able to push price even more past the opening price.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 3230 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3250 and above this level it may take resistance @ 3265-3280 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 54.04 and CCI recovers again and trading @ 43.04

Singapore Stock Views : TEE International

TEE International: FY13 earnings marred by admin expenses

Summary: TEE reported 4Q13 PATMI of S$6.4m, down 45% YoY mostly due to a S$4.1m increase in administrative expenses. Due to this, FY13 PATMI of S$13.1m was judged to be somewhat below our full year expectations. The order book of the Engineering segment now stands at S$215.4m, which remains fairly stable on a YoY basis. We like management’s active stance on seeking accretive acquisitions; note that TEE recently announced an MOU to invest in a waste-water treatment plant in Huzhou, China and also formed a JV for a S$8.6m 3-year contract for a water management project near Chao Phaya River, Thailand. We currently have a HOLD rating on TEE with a fair value estimate of S$0.38. However, given the attractive dividend of 2.50 S-cents ahead, which translates to a yield of 6.8% on the last closing price of S$0.37, we believe the downside may be capped from here.

Hurt by bump in administrative expenses

TEE reported 4Q13 PATMI of S$6.4m, down 45% YoY mostly due to a S$4.1m increase in administrative expenses. Tee reported that these expenses were incurred for marketing property development projects and also included administrative expenses for its newly acquired integrated turnkey material handling subsidiary. Due to this, FY13 PATMI of S$13.1m was judged to be somewhat below our full year expectations. We note, however, that FY13 top-line increased 51% to S$216.4m as the group recognized higher levels of contributions from engineering and property development projects. The order book of the Engineering segment now stands at S$215.4m, which remains fairly stable on a YoY basis. In addition, TEE also proposed a final dividend of 2.5 S-cents per share.

Successful listing of property segment - Tee Land Limited

Over the last quarter, the group successfully listed its property development segment on the SGX Mainboard as Tee Land Limited. We believe this will yield a few key benefits. First, a separate listing structure will allow the equity market to value the property segment alongside similar property peers. Second, this IPO raised significant capital for the group which will be key for further growth for the engineering, infrastructure and property development businesses.

Attractive dividend of 2.5 S-cents per share

We are impressed with management’s active stance on seeking accretive acquisitions; note that TEE recently announced an MOU to invest in a waste-water treatment plant in Huzhou, China and also formed a JV for a S$8.6m 3-year contract for a water management project near Chao Phaya River, Thailand. In addition, we understand that management is keen to increase its recurring income component and grow its infrastructure business in the region. We currently have a HOLD rating on TEE with a fair value estimate of S$0.38. However, given the attractive dividend of 2.50 S-cents ahead, which translates to a yield of 6.8% on the last closing price of S$0.37, we believe the downside may be capped from here.

Singapore Share Market Outlook 26 July 2013

Market Review:
Singapore Equities slipped after 3 continuous surges, following a sell-off on Wall Street fuelled by US housing data that raised concerns about the Federal Reserve's stimulus programme.

STI opens lower @ 3264.97 and traded lower whole day, breached all major support levels and took support @ 3232.94 and finally closed near to lowest level @ 3235.68 with loss of 39.08 points down by 1.19%.

Some 3.84 billion shares, valued at S$1.39 billion were traded. Gainers numbered 211 while losers numbered 254.

Market forecast:
After 3 days of up move STI sheds all gains in one day, STI faced resistance yesterday’s high and closed well below that level.  

STI forming a long black candle which opens lower and whole day traded in bearish mode and finally closed lower , here STI made lower level same as day before yesterday and finally closed near the low, which shows highly bearish sentiment in market.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 32303 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support:
STI having immediate support @ 3210 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:
STI having immediate Resistance @3250 and above this level it may take resistance @ 3265-3280 levels.

Technical indicators:
Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 61.85 and CCI recovers again and trading @ 66.06

SG Stock Views - CapitaMalls Bullish break suggests more upside ahead

Bullish break suggests more upside ahead

Key obstacles conquered. CapitaMalls Asia could see further recovery after rebounding off its 1-month uptrend support recently; this was followed by bullish breaks above both its 3-month downtrend resistance and $1.95 key resistance on heavy volume yesterday.

Indicator is bullish.The MACD is still climbing steadily at the moment, suggesting that the upside momentum is likely to continue.

Next resistance at $2.25.The counter is likely to head towards the $2.25 obstacle (key peaks) in the weeks ahead.

Immediate support at $1.95. Meanwhile, we advocate a stop-loss exit around $1.90, which is slightly below the newly established resistance-turned-support at $1.95.

Straits Times Index - Technical Outlook for 25 July

Market Views:

STI continue the uptrend and closed higher from almost 7 week above 3255 level.

STI opens at same level @ 3251.66 and then it made a day low@3246.65 and recovers from that level.STI made day high @ 3277.55 and then finally closed @ 3274.76 with gain of 21 points up by 0.65%.

Some 3.60 billion shares, valued at S$1.47 billion were traded. Gainers numbered 265 while losers numbered 170.

Market forecast:

STI showing reversal on chart, it took support @ 3065 levels and continuous rallying higher side, today it made its 7 week high mark.

STI forming a chart pattern called inverted H&S on daily chart, however it not supporting all the characteristic of same pattern. Still we can consider this as inverted H&S and this is a reversal pattern so if STI maintain above its neckline which is @ 3270 then it can move higher.

So as per the pattern if STI maintain its 3270 mark then we can see more upside move in the Index, and for other side if STI breached its 3180 level. Then we can see bearish move in market.

Support:

STI having immediate support @ 3250 level and below this level it can take support @3235-3210 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3290 and above this level it may take resistance @ 3305-3330 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 61.85 and CCI recovers again and trading @ 121.78

STI SIngapore Market Outlook 24-July 2013

Market Review:
STI continues the same rally today and closed well above resistance level. Singapore's Straits Times index ended firmer at a 7 week closing high, led by banks.

STI opens positive @ 3238.37 and then made day low @ 3231.76 and after taking support at this level it didn’t see behind and crossed 3250 resistance mark and made day high @ 3256.69. Finally closed @3253.76 with gain of 19.41 points up by 0.60%.

Some 2.21 billion shares, valued at S$1.42 billion were traded. Gainers numbered 231 while losers numbered 218

Market forecast:As we mention in our previous report about reversal on daily chart and with today’s move, it proved. Also STI made almost same high as previous.

STI formed a candlestick pattern called The “Tweezer Top” is a moderately reliable, bearish, reversal candlestick formation consisting of two candles that are generally seen at the end of an uptrend. The first candlestick in the pattern is a rising white candle, while the second candlestick is a declining black candle.  The Tweezer Top generally establishes a line of resistance at the high point of a weakening up trend and is often an indication the market is headed lower.
So as per the pattern if STI crossed its 3258 mark then we can see
more upside move in the Index, and for other side if STI breached its 3180 level. Then we can see bearish move in market.

Support: STI having immediate support @ 3220 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:
STI having immediate Resistance @3258 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 58.78 and CCI recovers again and trading @ 101.18

STI Singapore Market Outlook 23-July

Market Review: 

Most Southeast Asian markets edged up on Monday, on expectations of strong quarterly results due in major financial centers over the next few weeks. Most other Asian share markets were modestly higher.

STI opens with good gap @ 3223.91, and made day high 3240.36 and then STI faced resistance at that level and fell down and took support @ 3223.60, finally STI closed @ 3234.35 with gain of 21.09 points up by 0.66%.

Some 2.09 billion shares, valued at S$1.11 billion were traded. Gainers numbered 251 while losers numbered 185.

Market forecast:

We can see clear reversal on daily chart. If STI maintain continue uptrend, so it can breached its recent resistance level of 3255.

So as per the pattern if STI crossed its 3250 mark then we can see more upside move in the Index, and for other side if STI breached its 3180 level. Then we can see bearish move in market.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3255 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 55.73 and CCI recovers again and trading @ 86.06

STI Singapore Market Weekly Forecast 22-26 July

Market Forecast for week ahead:

• After 3 weeks of uptrend, STI closed lower this week. But the positive thing it was maintain itself above 32oo mark.

• STI formed a candlestick pattern called The “Tweezer Top” is a moderately reliable, bearish, reversal candlestick formation consisting of two candles that are generally seen at the end of an uptrend. The first candlestick in the pattern is a rising white candle, while the second candlestick is a declining black candle.  The Tweezer Top generally establishes a line of resistance at the high point of a weakening up trend and is often an indication the market is headed lower. 

• If STI maintain above 3200 mark and breached its previous 2 weeks high then we expect upward in Index and if it will crossed 3180 and maintain below then bear will take charge in market.

STI Resistance:

• STI having Resistance @ 3235 and above this level it may take resistance from 3265-3295 levels.

STI Support:

• STI having nearest support @ 3180 below this 3140-3120 will be the support area for market.

Technical Indicators:

Technical indicators are giving positive impression.

STI Weekly Summary and Micro Economic Factors

Weekly wrap of STI: 

After 3 week of winning strike Singapore stock markets sheds this week and closed lower, but maintain itself above 3200 mark.

STI opens with good gap @3240.52 then it made weekly high @3255.72 and then it traded lower side and made weekly low @3205.57, finally closed @ 3213.26 with loss of 22.8 points down by 0.70% wow basis.

Micro Economic Factors:

Singapore retail sales rose 3.2 % from a year ago in May 2013, according to data released by Singapore Department of Statistics on today, excluding motor vehicles, retail sales went up 3.1% from a year ago. Retailers of telecommunications apparatus & computers, watches & jewellery, supermarkets, food & beverages and department stores recorded the highest increases in sales of between 5.3% and 8.1% from a year ago. Sales of optical goods & books, motor vehicles, provision & sundry shops, medical goods & toiletries and wearing apparel & footwear also climbed between 1.1% and 3.6% from year-ago 

SINGAPORE'S non-oil domestic exports (NODX) last month fell 8.8 % from a year ago, extending the 4.6 % drop in May. Month-on-month; the NODX rose a seasonally-adjusted 3.2 % in June to reverse the previous month's 1.1 % dip, according to Singapore's trade promotion agency International Enterprise Singapore on Wednesday.

STI Singapore Market Outlook for 19 July 2013

Market Review: 

Singapore's benchmark Straits Times Index inched up 0.3% to 3,219.13, snapping 2 days of straight losses after Federal Reserve Chairman Ben Bernanke's comments soothed anxiety over imminent withdrawal of the central bank's monetary stimulus.

STI opens with slid gap @ 3217.34, then traded higher and made day high @ 3226.94 and faced resistance at that level and made day low @ 3210.81. Finally closed @ 3218.20 near to opening level with gain of 9.87 points up by 0.31%.

Some 3.37 billion shares, valued at S$1.10 billion were traded. Gainers numbered 216 while Losers numbered 210.

Market forecast:

Today STI snapping its 4 days down trend and closed in green, also maintain the support level of 3210.

STI formed a candlestick pattern called “Bullish Harami Cross”; this is a major bullish reversal pattern, which is even more significant than a regular Bullish Harami. The outline again looks like a pregnant woman, as with the Bullish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a black body followed by a Doji that is inside the range of the prior black body.

A bearish mood prevails in the market, and a downtrend is in progress. The first day’s candlestick is a black body, which further supports bearishness. However the next day, prices open higher than the close, or at the close of the preceding day. The short traders are alarmed which leads to the covering of many short positions, causing the price to rise further. Moreover, the day closes at the opening price, showing lack of decision among traders. The increasing level of indecision and uncertainty amplifies the likelihood of a trend change and cause a reversal.

So as per the pattern if STI crossed its 3200 mark then we can see more down side move in the Index, for upward move it has to maintain above 3250 mark.

Support:

STI having immediate support @ 3200 level and below this level it can take support @3185-3160 will be the support zone for STI.

Resistance:

STI having immediate Resistance @ 3255 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 53.08 and CCI recovers again and trading @ 81.41

STI Singapore Stock Market Forecast 18 July

Market Review: 

Most Southeast Asian stock markets ended firmer on Wednesday as investors waited for clarity on when the U.S. central bank will roll back its $85-billion-a-month bond buying program. Federal Reserve Chairman Ben Bernanke, who gives testimony to Congress later in the day, is expected to balance a message of enduring central bank support for the U.S. economy with a reminder that the Fed's ultra-easy policies cannot last forever. 

STI opens @ 3221.12 and made day high @ 3226.38, and after making day high it continue fell down whole day and made day low @ 3207.54. Finally STI closed @ 3208.33 with loss of 16.63 points down by 0.52%.

SINGAPORE'S non-oil domestic exports (NODX) last month fell 8.8 % from a year ago, extending the 4.6 % drop in May. Month-on-month; the NODX rose a seasonally-adjusted 3.2 % in June to reverse the previous month's 1.1 % dip, according to Singapore's trade promotion agency International Enterprise Singapore on Wednesday.

Market forecast:

It is a 4th consecutive day of down trend in STI, index opens higher but closed lower. Good thing that Index maintains itself above 3200 mark.

As we mention in our previous report that STI formed an inverted pennant, and if it will maintain above its horizontal resistance line then it can be more bullish. And STI crossed that resistance line and maintain till 3250 mark but above this STI struggling and return back from that level.

So if STI crossed its 3200 mark then we can see more down side move in the Index, for upward move it has to maintain above 3250 mark.

Support:

STI having immediate support @ 3200 level and below this level it can take support @3185-3160 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3255 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 54.39 and CCI recovers again and trading @ 110.64

Singapore Stock Market Forecast 17-July 2013

Market Review: 

Most Southeast Asian stock markets ended weaker on Tuesday awaiting directions from U.S. Federal Reserve Chairman Ben Bernanke's twice-yearly monetary policy report to the Congress later this week.Singapore shares open higher, but closed lower for 3rd consecutive day.

STI opens with good gap @ 3244.50 and made day high @ 3252.55, and after making day high it continue fell down whole day and made day low @ 3216.50. Finally STI closed @ 3224.96 with loss of 11.86 points down by 0.37%.

Some 3.33 billion shares, valued at S$1.02 billion were traded. Gainers outnumbered losers 217 to 204.

Market forecast:

It is a 3rd consecutive day of downtrend in STI, index opened higher but closed lower. Good thing that Index maintains itself above 3200 mark.

As we mention in our previous report that STI formed an inverted pendant, and if it will maintain above its horizontal resistance line then it can be more bullish. And STI crossed that resistance line and maintain till 3250 mark but above this STI struggling and return back from that level.

So if STI crossed its 3200 mark then we can see more downside move in the Index, for upward move it has to maintain above 3250 mark.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3190-3160 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3255 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 54.39 and CCI recovers again and trading @ 110.64.

Singapore Stock Market Forecast 16 July 2013

Market Review: 

Singapore shares open higher, back of China released data showing the world's second largest economy grew in line with expectations in the April-June quarter.

STI opens with good gap @ 3240.52 and just made a low of 3239.34 marks and in the same candle it made a day High @ 3255.54. After making day High STI traded between the ranges and finally closed @ 3236.82 with gain of 0.76 points, up by 0.02%.

Singapore retail sales rose 3.2 % from a year ago in May 2013, according to data released by Singapore Department of Statistics on today, excluding motor vehicles, retail sales went up 3.1% from a year ago. Retailers of telecommunications apparatus & computers, watches & jewellery, supermarkets, food & beverages and department stores recorded the highest increases in sales of between 5.3% and 8.1% from a year ago.Sales of optical goods & books, motor vehicles, provision & sundry shops, medical goods & toiletries and wearing apparel & footwear also climbed between 1.1% and 3.6% from year-ago 

Market forecast:

STI opens higher but closed lower, it was a 2nd consecutive down trend in STI. But still STI maintain itself above 3200 mark.

STI formed a candlestick pattern called “Bullish Harami” A bullish Harami occurs when there is a large bearish red candle on Day 1 followed by a smaller bearish or bullish candle on Day 2. Again, the most important aspect of the bullish Harami is that prices gapped up on Day 2 and price was held up and unable to move lower back to the bearish close of Day 1.”

STI closed well above its resistance line of pattern so we can expect more upwards till 3310.

Support:

STI having immediate support @ 3220 level and below this level it can take support @3200-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3265 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 58.56 and CCI recovers again and trading @ 173.74

Singapore Stock Market Weekly Forecast 15-19 July

Weekly wrap of STI: 

Singapore stock markets edged higher in light volume .STI gains this week more than 5 weeks high, after dovish comments from Federal Reserve chairman Ben Bernanke on the U.S. stimulus.

STI opens with good gap @3161.95 then it made weekly low of 3132.07 and after taking support at this level STI crossed its major resistance zone of 3258.21, and finally closed @ 3236.06 levels with gain of 66.33 points up by  2.04% wow basis.

Market Forecast for week ahead: 

It’s a 3rd week where STI continue its recovery and gain. STI closed above 3200 mark and breached their 3250 resistance levels which were crucial mark for Index.

On a daily chart STI formed an inverted pennant pattern also crossed and maintain above resistance of 3220 and closed well above this level.

If STI breached almost 5 week high level and this is good sign for coming week, now we can expect more upward in STI.

STI Resistance:

STI having Resistance @ 3265 and above this level it may take resistance from 3295-3320 levels.

STI Support:

STI having nearest support @ 3210 below this 3195-3160 will be the support area for market.

Technical Indicators:

Technical indicators are giving positive impression.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3210	3195	3165	3265	3295	3320

STI Singapore Stock Market Outlook 12 July 2013

Market Review: 

Singapore shares rose for the third day in a row after dovish comments from Federal Reserve chairman Ben Bernanke on the U.S. stimulus.

STI opens with good gap @ 3214.69 and just made a low of 3213.11 marks and traded in uptrend whole day and finally made day high @ 3250.38 closed near to high @ 3248.92 with gain of 60.88 points up by 1.91%. Some 2.05 billion shares, valued at S$1.53 billion were traded. Gainers outnumbered losers 352 to 106.

Straits Times Index rose the highest since June 5. Asian shares, as measured by MSCI Asia-Pacific ex-Japan index, advanced 2.6%.

Market forecast:

STI traded in positive node and made day high @ 3250 which is highest level in 1 month, and above this level STI can move further upside.

STI formed a candlestick pattern called “Rising Window” is a combination of a gap or window and two candlesticks. In Japanese candlesticks, a gap is called a window and occurs when there is a gap between two consecutive candlesticks, including their shadows. It is not a window if the gap is between the real bodies of the two candlesticks, but the shadows touch. The gap must be between the shadows as well. A window can be a rising window, which is bullish.

STI closed well above its resistance line of pattern so we can expect more upwards till 3310.

Support:

STI having immediate support @ 3220 level and below this level it can take support @3200-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3265 and above this level it may take resistance @ 3285-3310 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 58.56 and CCI recovers again and trading @ 173.74.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3220	3200	3180	3265	3285	3310

Singapore Stock Market Forecast 11-July 2013

Market Reviews:

STI opens high and closed also above its resistance level which is positive sign.

STI opens with gap @ 3192.47 and after opening above resistance STI made day high @ 3205 level but can’t able to sustain above this mark and traded lower in last hours, finally STI closed @ 3188.04.Singapore shares outperformed, with the Straits Times Index up, the highest in more than 2 weeks.

Market forecast:

STI traded in positive node and made day high above to last week’s high and faced resistance @ 3205 level, but closed below this 3200 mark.

As we mention in our previous report that STI formed a technical pattern called pennant, his pattern is usually a continuation pattern so in this case it would be bearish pennant. However since it’s forming right at our uptrend line, this could break on either side. And maybe just tiny bit higher chances that it could break upside since we are the uptrend line support.

STI opens and traded above this resistance line of pattern but closed @ this resistance line.We can see this pattern in reverse manner and if STI manage it self above 3190 than we can expect more upside.

Support:

STI having immediate support @ 3160 level and below this level it can take support @3140-3120 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3190 and above this level it may take resistance @ 3205-3230 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 48.78 and CCI recovers again and trading @ 67.43.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3160	3140	3120	3190	3205	3230

.

Straits Times Index - Singapore Market Outlook 10 July 2013

Market Reviews:
Most Southeast Asian stock markets edged higher in light volume on Tuesday as investors sought bargains among battered emerging equities with sentiment buoyed by gains in Asia. Indonesian shares, however, fell after some early gains.

STI opens @ 3167.05 and goes down and made day low @ 3159.83 , after taking support that this point STI made day high @ 3185.59 and finally closed @ 3178.58 with gain of 23.16 up by 0.73%.Some 1.97 billion shares, valued at S$1.12 billion were traded. Gainers outnumbered losers 302 to 134.

Singapore shares outperformed, with the Straits Times Index up 0.9% at 3,183.61, the highest in more than 2 weeks.

Market forecast:

STI traded in positive node and made day high near to last week’s high and faced resistance @ same level of 3185 and near that place.

STI formed a technical pattern called pennant, his pattern is usually a continuation pattern so in this case it would be bearish pennant. However since it’s forming right at our uptrend line, this could break on either side. And maybe just tiny bit higher chances that it could break upside since we are the uptrend line support.

We can see this pattern in reverse manner and if STI manage it self above 3190 than we can expect more upside.

Support:

STI having immediate support @ 3160 level and below this level it can take support @3140-3120 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3190 and above this level it may take resistance @ 3205-3230 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 48.78 and CCI recovers again and trading @ 67.43.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3160	3140	3120	3190	3205	3230

STI Singapore Stock Market Outlook 09-July 2013

Market Reviews:

For the 2^nd week STI opens lower and closed lower, tracking losses in most regional markets as expectations of the Federal Reserve pulling pack its easy monetary policy gathered steam on the back of better-than-expected U.S. jobs data Friday.

STI opens @3161.95 and made day high @ 3165.50 then goes down side and made day low @ 3132.07, after taking support at this level STI recovers near to day high and finally closed @3155.47 with loss of 14.26 down by 0.45%.

Some 2.00 billion shares, valued at S$1.00 billion were traded. Losers outnumbered gainers 292 to 121.]

Market forecast:

STI traded lower and breached its support level of 3150, took support @ 3132 levels, which is not a good sign for coming days.

STI formed a candlestick pattern called “below stomach” this is 2 candle patterns, with market in an uptrend. Long white real body. Next session opens below middle of prior white real body and closes at or below that level. Trend shifts from up to down.

Support:

STI having immediate support @ 3140 level and below this level it can take support @3120-3095 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3160 and above this level it may take resistance @ 3185-3205 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 45.05 and CCI recovers again and trading @ 7.19.