STI Singapore Market Weekly Forecast for 03-07 June 2013

Market Forecast for week ahead:

• From last 2 weeks STI shrinks its previous 4 weeks gain which is really a weak sign. STI fell below its 78.6% Retracement level this week.

• STI formed a candlestick pattern called “Bearish Three Outside Down” After an established uptrend a clear bearish Engulfing pattern occurs one green candle and a second bear move that drives price below the prior day low and closes near the bottom of the range.

• The third day is a red day with an even lower close than the second day. In a market characterized by uptrend, day-twos red candle close completely below day-one, engulfing it completely. The first two days are a classic pattern that suggests a sell-off has taken over the market and is breaking the established trend. This bearish reversal is confirmed by a still lower day on day-three.

• STI still looks sideways to downwards because STI trading below 78.6% retracement level which is higher for any index at this point we expect some sideways to downwards.

STI Resistance:

• STI having Resistance @ 3360 and above this level it may take resistance from 3405-3440 levels.

STI Support:

• STI having nearest support @ 3280 below this 3250-3220 will be the support area for market.

Technical Indicators:

Technical indicators are giving Bearish impression, MACD give its bearish crossover, RSI trading return from 77.56 level to 54.786 and CCI also turning from high level to 48.04.

STI Weekly Wrap for the Week 27-31 May

Singapore shares fell for a 2nd week to their lowest in five weeks, led by drops in interest-rate sensitive such as property stocks, as concerns about a potential rollback of the US Federal Reserve's stimulus programme weighed on the region.  

Singapore snapped two months of gains as telecoms underperformed amid rising bond yields. Singapore's Straits Times Index fell 1.7 % for the month, with shares in Singapore Telecommunications Ltd leading among losers in May with a 5.3 percent fall. A spike in bond yields appeared to be the key factor behind the fall in share prices of Singapore-listed telecoms.

STI opens below 3400 mark for 2nd continuous week @ 3388.03 levels and then recovers and traded above 3400 mark again and made week high @ 3416.52. After making its high it can’t able to sustain higher levels and fell badly and took support @ 3303.11, finally closed @ 3311.37 with loss of 81.8 points down by 2.41% wow basis.

Macro Economic Factors:

Singapore rose 0.9 per cent in April from March Loans and advances by domestic banking units in the city-state amounted to S$522.3 billion (US$414.3 billion) last month, up from S$517.7 billion in March. The March figure was slightly revised from the earlier reported S$517.8 billion. From a year earlier, April bank lending rose 20 %.

STI Singapore Market Outlook for 31-May 2013

Market Reviews:

It is a 2nd continuous day where STI index fell badly, STI fell below its major support levels and closed with loss of almost 1%.

STI opens with gap @ 3360.08 levels and just made day high @ 3361.50 level and as it opens below support level @ 78.6% retracement level of 3366, so it fell continuously and made day low @ 3303.11 and finally took support at this level and closed with loss of 31.46 points @ 3336.01, down by 0.93%.Some 4.25 billion shares, valued at S$2.29 billion were traded. Losers outnumbered gainers 321 to 142.

Singapore shares fell for a 2nd day to their lowest in 5 weeks, led by drops in interest-rate sensitive such as property stocks, as concerns about a potential rollback of the U.S. Federal Reserve's stimulus programme weighed on the region..

STI Technical Chart - Intraday

Market forecast:

In last 2 days Singapore shares lose its 100 points and traded below its major support zone. This week was bad for bulls.

STI fell below its 78.6% retracement level today, open with gap below this level and traded in down trend whole day. 

Today STI formed a long black candlestick called “Falling window “a gap or called window between the low of the 1st candle and high of the 2nd candle. Falling window is a bearish formation. It defines a resistance zone. If future candles do not close in the resistance zone especially above the critical resistance line then this bearish effect remains valid.

STI still looks sideways because STI trading below 78.6% retracement level which is higher for any index at this point we expect some side ways to downwards.  

STI Intraday Support Levels:

STI having immediate support @ 3320 level and below this level it can take support @3295-3265 will be the support zone for STI.

STI Intraday Resistance levels:

STI having immediate Resistance @3365 and above this level it may take resistance @ 3385-3405 levels.

Technical indicators:

Technical indicators MACD, RSI trading below centreline @ 38.68, CCI currently traded @ -193.07 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3320	3295	3265	3365	3385	3405

Singapore Stock to Watch Today 30 May 2013

STOCKS TO WATCH

ASCENDAS HOSPITALITY TRUST MANAGEMENT PTE LTD

Ascendas Hospitality Trust, which listed in July and owns hotels in Australia, China and Japan, announced the launch of an equity fund to raise no less than S$200 million ($158 million) to partially fund the acquisition of Park Hotel Clarke Quay in Singapore. It requested a trading halt in its shares on Thursday for one day.

DBS GROUP HOLDINGS LTD

DBS, Singapore's biggest bank, has priced its inaugural offshore RMB bond issue settled in Singapore. The 500 million yuan ($81.6 million) fixed rate bonds due 2016, priced at 99.76 percent, will bear a fixed coupon of 2.5 percent per annum with interest payable semi-annually. They are expected to be issued in June 2013.

YONGNAM HOLDINGS LTD

A consortium of Yongnam Holdings, Changi Airport Planners and Engineers and JGC Corp has submitted a proposal to Myanmar's Department of Civil Aviation to build Hanthawaddy International Airport. It is the consortium's second proposal after a submission in April 2013 for Yangon International Airport.

FRASERS COMMERCIAL TRUST 

Frasers Commercial Trust received provisional permission for proposed additions and alterations to an existing commercial development at China Square Central and the construction of a new hotel block at 18 Cross Street in Singapore.

Straits Times Technical Outlook for 30-May 2013

Market Reviews:

STI index fell badly in late hours today and closed with more than a 1% lower.

STI opens above 3400 level @ 3407.23 and then it made day high @ 3416.46 and after it slowly dragging down but in late hours it fell below low and made day low @ 3367.47 and  also closed at day low with loose of 38.61 points down by 1.13%.

Some 4.18 billion shares, valued at S$1.95 billion were traded. Losers outnumbered gainers 316 to 162.

Market forecast:

Singapore shares were more than 1% down today ay, after scaling to the highest in more than 5 years just last week. The Straits Times Index traded lower and closed very near to support level.

Today STI formed a long black candlestick called closing marubozu also this candle engulf previous 2 candles which is more bearish sign.

as we mention in our previous report STI fell below its previous low, still it looks sideways because STI trading above 78.6% retracement level which is higher for any index at this point we expect some sideways to downwards.

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 @3385 and above this level it may take resistance @ 3405-3420 levels.

Technical indicators:

Technical indicators MACD, RSI trading below centreline @ 44.395, CCI currently traded @ -84.785 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3360	3340	3320	3385	3405	3420

STI Singapore Market Forecast 29-May 2013

Market Reviews:

STI add some more points on 2^nd trading day of week and contribute in day on day recovery of last week fall.

STI opens above 3400 level @ 3401.89 and then it lost some points and made day low @ 3393.36 marks and again recovers from that level and made day high @ 3410.02. Finally STI closed @ 3406.08 with gain of 14.78 points up by 0.44%.

Some 3.34 billion shares, valued at S$1.53 billion were traded. Gainers outnumbered losers 318 to 144.

Market forecast:

STI recovers and traded above 3400 mark again, and closed above this level which is positive sign.

STI formed white candles today which have long lower shadow and small upper shadow and body is just double from upper shadow. This candle indicates good movement in market, market opens flat and made low after opening and recovers and made day high and finally closed with some shrinkage in gain.

As today STI recovers some points from previous fall, still it looks sideways because STI trading above 78.6% retracement level which is higher for any index at this point we expect some sideways to downwards.

Support:

STI having immediate support @ 3380 level and below this level it can take support @3366 -3340 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3420 and above this level it may take resistance @ 3440-3470 levels.

Technical indicators:

Technical indicators MACD, RSI trading below centreline @ 53.36, CCI currently traded @ -30.76 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3380	3366	3340	3420	3440	3470

Singapore Stock Market Technical Outlook 28-May 2013

Market reviews:

After last week fall, STI open lower today and traded in a good range but closed lower for day.

STI opens with gap @ 3388.03 and then it made day low @ 3384.48 and recovers from that lower level and made day high @ 3403.41 but cant able to sustain that level and closed below 3400 mark @ 3391.30 with loss of 1.870 down by 0.06%.

 Some 2.57 billion shares, valued at S$1.45 billion were traded. Gainers outnumbered losers 281 to 156.

STI Technical Chart - Intraday

Market forecast:

STI trading in a lower levels, it opens below 3400 mark and closed also below this level, but today trading range was quite good .

Today STI formed a candlestick pattern called A Spinning High 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.

From this level STI looking sideways to downwards because it trading near to support levels and if it crossed this support level it will be more bearish.

STI Intraday Technical Support:

STI having immediate support @ 3380 level and below this level it can take support @3366 -3340 will be the support zone for STI.

STI Intraday Technical Resistance:

STI having immediate Resistance @3405 and above this level it may take resistance @ 3420-3440 levels.

Technical indicators:

Technical indicators MACD, RSI trading below centreline @ 49.75, CCI currently traded @ -52.17 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3380	3366	3340	3405	3420	3440

Straits Times Index Singapore Market Weekly Forecast

STI Weekly Chart

Market Forecast for week ahead:

• STI continues trading in uptrend since 5 weeks, but last week it shrinks more than 1.5% from its all time high and closed previous 2 weeks lower level.

• As we previously mention that STI trading well above its 78.6% retracement level i.e. 3373.23 marks, but in this week STI took support near to this level @ 3382.82 mark so for coming days 3373.23 mark will act as a major support area on the other side above this level next milestone comes @ 3908 mark which is far away from current level. Between this we can see long consolidation phrase as well.

• STI formed a candlestick pattern called “Black Engulfing” is characterized by a large black body engulfing a preceding smaller white body, which appears during an uptrend. The black body does not necessarily engulf the shadows of the white body but totally engulfs the body itself. This is an important top reversal signal.

• While the market is characterized by a definite uptrend, lower volume of buying is observed with the occurrence of a white body on the first day. The next day, the market opens at new highs. It looks as if there’s going to be more bullish trading, however the uptrend loses momentum and the bears take the lead during the day. The selling pressure overcomes buying and finally the market closes below the open of the previous day. The uptrend is damaged.

STI Resistance:

• STI having Resistance @ 3440 and above this level it may take resistance from 3470-3500 levels.

STI Support:

• STI having nearest support @ 3360 below this 3320-3290 will be the support area for market.

Technical Indicators:

Technical indicators are giving Bearish impression, MACD give its bearish crossover, RSI trading return from 77.56 level to 66.76and CCI also turning from high level to 156.91.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3360	3320	3290	3440	3470	3500

STI Weekly Summary and Macro Economic Factors

STI Weekly Wrap

After 5 weeks winning strike, this week STI tumbles more than 1.5% from previous close below 3400 mark.

STI opens @ 3452.79marks and then it made week high @ 3464.79 this is again a new high for STI, but it can't able to sustain this higher level ,on last 2 trading days STI fell and crossed its support level and made week low @ 3382.82 . Finally closed below 3400 mark @ 3393.17 with loss of 56.13 points down by 1.63% wow basis.

Macro Economic Factors:

• Singapore released the country's final Q1 GDP which was revised up to +0.2% y/y compared to the preliminary reading of -0.6% y/y released in mid-April. On a sequential basis, GDP increased by 1.8% q/q Saar from +3.3% in Q4 2012. At the same time, headline inflation eased to 1.5% y/y in April (consensus: 3.0%) from 3.5% in March.
• Meanwhile, growth of industrial production in April surprised to the upside at 4.7% y/y (consensus: 1.6%) from a revised -3.8% y/y in March, driven by the biomedical manufacturing sector.

Singapore Stock Market Forecast for 23-May

Market Reviews:

Most Southeast Asian stock markets rose to new highs on Wednesday on light to moderate volume and ahead of U.S. Fed Chairman Ben Bernanke's testimony in Congress, with expectations of improved earnings forecasts supporting Singapore shares.

STI opens with gap @ 3453.28 and then it made day high and new high also @ 3464.69 and then it traded in a narrow range. STI closed @ 3454.37 with gain of 10.470 points up by 0.30%.

Some 3.78 billion shares, valued at S$1.66 billion were traded. Gainers outnumbered losers 327 to 162.

Market forecast:

STI traded in reverse direction from yesterday’s movement and closed with gain.

Today STI formed a candlestick pattern called “Inverted Umbrella” the body should be colourless and have zero length. However, candlesticks with close-to-zero body lengths. Only the upper shadow exists and it is long.

The Inverted Umbrella indicates that buyers dominated trading and they were able to drive prices higher during the day. However, sellers resurfaced by the end of the day and pushed prices back to the opening price level and to the day’s low.

Support:

STI having immediate support @ 3440 level and below this level it can take support @3420-3400 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3465 and above this level it may take resistance @ 3480-3500 levels.

Technical indicators:

Technical indicators MACD, RSI trading above centreline @ 69.92 are in positive mode and CCI currently traded @ + 89.717 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3440	3420	3400	3465	3480	3500

Straits Times Index - Technical Outlook for 22 May

Market Reviews:

Straits Times index opens flat today and closed in negative territory.

STI opens flat 3455.60 and then move only 1 point and made day high @ 3456.99 and then traded in lower level, finally took support @ 3431.38 marks and closed with loss of 10.33 points down by 0.30% @ 3443.90.

Some 2.6 billion shares, valued at S$1.77 billion were traded. Gainers outnumbered losers 230 to 226.

STI Market Intraday Outlook:

From last few days STI trading in a narrow range and closed almost at same level as opening. as STI trading higher level so it was expected a dip in trade. 

Today STI formed a candlestick pattern called bearish Belt Hold. It opens at its high and immediately backs off for the rest of the day. The longer the body of the Belt Hold, the more significant the reversal.

This pattern often signals a reverse in investor sentiment from bullish to bearish. However, the bearish belt hold is not considered very reliable as it occurs frequently and is often incorrect in predicting future share prices. As with any other candlestick charting method, more than two days of trading should be considered when making predictions about trends.

STI Intraday Support Level:

STI having immediate support @ 3425 level and below this level it can take support @3400-3380 will be the support zone for STI.

STI Intraday Resistance Level:

STI having immediate Resistance @3450 and above this level it may take resistance @ 3465-3480 levels.

Technical indicators:

Technical indicators MACD, RSI trading above centreline @ 67.63 are in positive mode and CCI currently traded @ + 74.85 levels.

STI SIngapore Market Forecast for 21 May 2013

Market Reviews:

Straits Times index has risen nearly 9 % so far this year and hit a streak of five-year highs.

STI opens flat @ 3452.79 and then made day high @ 3458.04, but cant able to sustain this level and made day low @ 3443.86 and finally closed with recovery @ 3454.23 with gain of 4.93 points up by 0.14%.

Some 2.95 billion shares, valued at S$1.42 billion were traded. Gainers outnumbered losers 267 to 198.

Market forecast:

STI movement is going to be slow day by day as it is @ higher side. so we can see little upside movement in STI and every day it made high today it made high @ 3458.04 level.

Today STI formed a candlestick pattern called high wave spinning top, candlestick with a long upper shadow, long lower shadow and small real body are called high wave spinning top. One long shadow represents a reversal of sorts; high wave spinning top represent indecision.

The small real body shows little movement from open to close which is true in case of STI and the shadows indicate that both bulls and bears were active during the session. Even though the session opened and closed with little change, prices moved significantly higher and lower in the meantime. Neither buyers nor sellers could gain the upper hand and the result was a standoff. After a long advance or long white candlestick, a high wave spinning top indicates weakness among the bulls and a potential change or interruption in trend.

Support:

STI having immediate support @ 3440 level and below this level it can take support @3425-3405 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3465 and above this level it may take resistance @ 3480-3500 levels.

Technical indicators:

Technical indicators MACD, RSI trading above centreline @ 71.94 are in positive mode and CCI currently traded @ + 94.90 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3440	3425	3405	3465	3480	3500

STI Singapore Stock Market Weekly Technical Analysis: 20th-24th May

STI Weekly Summary:

Strait Times Index has maintained its uptrend for continuous 5 week, also made new High of 3457.07 and closed in positive territory.

   

STI opens @ 3441.70 marks and then it made week low @ 3425.18 levels and after taking support at that level STI crossed previous week high i.e. 3445.39 and made its new high i.e. 3457.07  level. Finally STI closed with very moderate gain of 5.53 points @ 3449.30 levels. About 1.4 million shares of SIA changed hands, more than double of its 30-day average in trading volume.

Market Forecast for week ahead: 

STI continues the same upward rally for 5th week, after crossing the 3320 mark. This week STI crossed 3450 mark after December 2007 and closed above its 78.6% retracement level.

Now STI trading well above its 78.6% retracement level i.e. 3373.23 marks, and above this level next milestone comes @ 3908 mark which is far away from current level. Between this we can see long consolidation phrase as well.

Today STI formed a candlestick pattern called spinning top candlestick with a long upper shadow, long lower shadow and small real body are called spinning top. One long shadow represents a reversal of sorts; it represents indecision.

The small real body shows little movement from open to close which is true in case of STI and the shadows indicate that both bulls and bears were active during the session. Even though the session opened and closed with little change, prices moved significantly higher and lower in the meantime. Neither buyers nor sellers could gain the upper hand and the result was a standoff. After a long advance or long white candlestick a spinning top indicates weakness among the bulls and a potential change or interruption in trend. 

STI Resistance:

STI having Resistance @ 3470 and above this level it may take resistance from 3500-3550 levels.

STI Support:

STI having nearest support @ 3400 below this 3380-3350 will be the support area for market.

Technical Indicators:

Technical indicators are giving bullish impression, MACD give its bullish crossover, RSI trading above its centreline @ 77.56 and CCI also turning to positive and trading @ 241.582.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3400	3380	3350	3470	3500	3550

Singapore Stock Market Forecast for 17-May

Market Reviews:

Singapore shares opened flat and closed almost at same level as opening.

STI opens flat @ 3451.32 and then it fell down and took support @ its day low level i.e. 3437.03, again recovers from that level and made day high @ 3455.55. Finally STI closed @ 3452.28 with gain of 10.75 points up by 0.31%.

Some 2.63 billion shares, valued at S$1.62 billion were traded. Gainers outnumbered losers 246 to 212.

Market forecast:

After 3 days of loosing strike, today STI again made new high and closed with gain near the higher level.

Now STI trading well above its 78.6% retracement level i.e. 3373.23 marks, and above this level next milestone comes @ 3908 mark which is far away from current level. Between this we can see long consolidation phrase as well.

Today STI formed a candlestick pattern called the high wave candlestick .This candlestick has a tiny white body with upper and lower shadows that have a greater length than the body. It is accepted as a type of Doji, and will act as a Doji when it appears.

The market moves higher and then sharply lower, or vice versa. It then closes above the opening price creating a tiny white body. This represents complete indecision between the bulls and the bears. The actual length of the shadows is not important. The small body relative to the shadows is what makes the spinning top.

STI Intraday Support Levels:

STI having immediate support @ 3425 level and below this level it can take support @3400-3380 will be the support zone for STI.

STI Intraday Resistance Levels:

STI having immediate Resistance @3470 and above this level it may take resistance @ 3500-3525 levels.

Technical indicators:

Technical indicators MACD, RSI trading above centreline @ 72.30 are in positive mode and CCI currently traded @ + 105.35 levels.

STI Singapore Stock Market Forecast 16 May

Market Reviews:

Singapore shares opened higher with other Asian peers as with the tumbling yen pushing Japanese stocks to a fresh multi-year high as improving confidence in the US economy boosted prospects for regional exporters.

STI opens with good gap @ 3446.63 and then made day high @ 3451.040 and after making high it turns and made day low @ 3435.01 and finally closed @ 3441.53 with gain of 8.77 points up by 0.26%.

Some 2.42 billion shares, valued at S$1.58 billion were traded. Gainers outnumbered losers 259 to 197.

Market forecast:

After two days, today STI again made new high and closed with gain from last day but closed below from opening level.

As we explained previously that STI formed a technical pattern called f “Ascending Triangle”. And after breaking out it retraced almost 3% from 3320 level so we think it well consolidate at this level and after that break next level.

over all its 3^rd day where STI closed lower from its opening level which shows that bears are holding the power and taking market at lower side.

Support:

STI having immediate support @ 3425 level and below this level it can take support @3400-3380 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3450 and above this level it may take resistance @ 3470-3500 levels.

Technical indicators:

Technical indicators MACD, RSI trading above centreline @ 60.431 are in positive mode and CCI currently traded @ + 106.01 levels.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3425	3400	3380	3450	3470	3500