Straits Time

Technical view on STI

STRAITS TIME LEVELS
Support 1	3360
Support 2	3340
Support 3	3320
Resistance 1	3400
Resistance 2	3415
Resistance 3	3430

Market Review:

Singapore shares rose on Monday as positive data from the United States instilled optimism and boosted investor confidence.

STI opens @3381.28 and then it slips down and took support @3376.77 after taking support STI made day high @ 3392.86 but cant able to crossed its recent high and closed @ 3382.29 with gain of 12.39 points up by 0.37% wow basis.

Some 2.14 billion shares, valued at S$1.39 billion were traded. Gainers outnumbered losers 256 to 187.

Market forecast:

Previous week were shown high liquidity in market but as it was 1^st day of week, market was quiet and didn’t see much movement and also cant able to cross 3400 mark.

As we explain in our previous report that STI crossed its resistance level which is also breakout point of “Ascending Triangle”. So according to this pattern more upward trend is expected.

Today STI formed a candlestick pattern called “Spinning Top Wave”, also called a High Wave candle, is candlestick that has an open and close price near each other which produces a small real body and colour is of no importance. They also have long upper and lower shadows that significantly exceed the length of the body. These types of candlesticks indicate indecision and subsequent consolidation.

Support:

STI having immediate support @ 3360 level and below this level it can take support @3340-3320 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3400 and above this level it may take resistance @ 3415-3430 levels.

Technical indicators:

Technical indicators MACD, RSI are in recovery mode and CCI currently traded @ + 133 levels.

Genting Singapore Shares Downs After Q1 Earnings Fall

Shares of Genting Singapore PLC fell as much as 8.1 percent early on Friday after the casino operator reported a 35 percent drop in core earnings and flagged a cautious outlook due to muted economic growth in China.

The shares fell as low as S$1.48 after closing 4.9 percent higher on Thursday before the results were released. Genting Singapore was among the top traded stocks by value and volume on Friday morning.

Genting Singapore's January-March adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to S$249.7 million ($202.5 million) from S$381.4 million a year earlier. Five analysts polled by Reuters had on average expected a profit of S$359 million.

OCBC Investment Research pared its 2013 fiscal year revenue estimate by 10 percent and core earnings forecast by 16 percent. It downgraded Genting Singapore stock to "sell" from "hold" and cut its target price to S$1.41 from S$1.52, saying the recent run-up in the share price seems "slightly overdone".

But OCBC said it would turn into a buyer closer to S$1.30 or lower and that a longer-term catalyst could come from a potential casino licence in markets like Japan.

Straits Times Index - Market Outlook for 03-April

Market Reviews:
Singapore shares rose to their highest in more than 5 years today crossed its 3400 mark after January 2008.

STI opens with good gap @ 3378.19 and traded in the range till end of 1^st half and then took support @ 3369.65 and rebound from that level and crossed its 3400 mark. Made a day high @ 3405.090. Finally closed @ 3402.39 with gain of 34.210 points up by 1.02%.

Some 2.23 billion shares, valued at S$1.89 billion were traded. Losers outnumbered gainers 234 to 221.

Market forecast:

STI crossed its 3400 mark a closed above this level which is good sign. Above 3400 STI having Resistance @ 3445-3475 mark in between there is no hurdle for STI.

As we explain in our previous report that STI crossed its resistance level which is also breakout point of “Ascending Triangle”. So according to this pattern more upward trend is expected.

Today STI formed a candlestick pattern called “long white candle” which denotes bulls are in power and it is a highly positive and continuation pattern by nature, also further candle will confirm the trend.

Support:

STI having immediate support @ 3380 level and below this level it can take support @3350-3335 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3445 and above this level it may take resistance @ 3475-3500 levels.

Technical indicators:

Technical indicators MACD, RSI are in recovery mode and CCI currently traded @ + 225.156 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3380	3350	3335	3445	3475	3500

STI Singapore Stock Market Outlook For 02-May

Market Reviews:
Singapore shares rose to their highest in more than 5 years on Tuesday, tracking U.S. stock market which closed at a record high in the previous session. The Straits Times Index rose 0.6 % to 3,382.93, the highest since January 2008.

Some 2.11 billion shares, valued at S$2.01 billion were traded. Losers outnumbered gainers 269 to 210.Singapore shares ended higher on Tuesday with the Straits Times Index gaining 6.26 points to 3,368.18.

Bank lending in Singapore rose 1.5 % in March from February, Loans and advances by domestic banking units in the city-state amounted to S$517.8 billion (US$419.7 billion) last month, up from S$510 billion in February. From a year earlier, March bank lending rose 19.7%.

Overall unemployment rate, seasonally adjusted, edged up to 1.9 % in March 2013, from 1.8 % in December 2012.Over the same period, the unemployment rate for residents rose to 2.9 % from 2.7 %, while the citizen unemployment rate was unchanged at 2.9 %.

Market forecast:

STI crossed its 78.65% retracement level of 3379.08 but closed with loss after 5 straight upward trading sessions.

After taking a big leap of almost 60 points STI faced resistance at 3380 mark and can't able to sustain this level longer and closed lower @ 3368.18.

As we explain in our previous report that STI crossed its resistance level which is also breakout point of “Ascending Triangle”. So according to this pattern more upward trend is expected.

Support:

STI having immediate support @ 3350 level and below this level it can take support @3335-3320 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3380 and above this level it may take resistance @ 3400-3412 levels.

Technical indicators:

Technical indicators MACD, RSI are in recovery mode and CCI currently traded @ + 229.58 level.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3350	3335	3320	3380	3400	3412