SGX Outlook : STI Technical Review 31 July

Market Review for STI: 

Singapore share prices opened on a mixed note at 3353.70.Property sector took a good pace today .Index up by 20.41 points. Asian markets extended their recent uptrend after US data showed the world's top economy grew much more than expected in the second quarter. High for the day was observed at 3387.84 and low for the day was observed at 3352.13. 

STI Day Performance
Open	3353.70
High	3387.84
Low	3352.13
Close	3374.06
Change(Points)	+20.41
% Change	+0.61%
Volume	1685.3M
Rise	186
Fall	241
Unch	680

Market forecast for STI:

STI formed a green candle with a long upper shadow and the overall trend is up .We may expect a good movement as it is breaking its higher highs .We may expect STI to move in a range of 3370-3380.

Technical indicators:

RSI is above the upper line at 76.45 and CCI is at 152.62.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3370	3360	3350	3385	3400	3425

Important Factor for today:-

• Singapore share prices opened on a mixed note at 3353.70 with STI up with change of 31.670 points.
• Total employment growth in Singapore fell to 22,000 in the second quarter of 2014, down from 28,300 in the previous three months and 33,700 a year ago.
• Singapore’s bank lending registered flat growth in June compared to the previous month, dragged by a slip in business loans.
• Ezion Holdings is proposing a bonus issue of one new share for every existing ordinary share. Q2 earnings for Ezion Holdings rose 25.5% as the deployment of more of its multi-purpose self-propelled jack-up rigs led to higher chartering revenue.
• Tuan Sing Holdings posted a 24% drop in net profit for the Q2 ended June 30 to $11.59 million, on the back of lower recognition of residential sales.
• Singapore Airlines (SIA) reported a net profit of S$34.8 million for the first quarter ended 30 June 2014, down from S$121.8 million in the corresponding quarter a year earlier.