STI Singapore Stock Market Weekly Forecast 01-05 July 2013

Market Forecast for week ahead: 

Finally STI take halt from its 5 straight weeks decline and closed above 3150 level, STI took support @ almost same level as previous week @ 3066.41.

STI formed a candlestick pattern called “Bullish Matching Lows” pattern occurs when two days appear with equal closes in a downtrend. Matching Low indicates a bottom has been made, even though the new low was tested and there was no follow through, which is indicative of a good support price.

If STI breached this two week low level of 3065 , than we expect more down fall in STI of more 100 points as on weekly graph STI having one support @ its up slopping trend line which ended @ 3000 mark and below this next support comes @ 2960 level. And if STI maintain above 3150 level so it can be traded above 3250.

STI Resistance:

STI having Resistance @ 3180 and above this level it may take resistance from 3215-3250 levels.

STI Support:

STI having nearest support @ 3095 below this 3065-3020 will be the support area for market.

Technical Indicators:

Technical indicators are not impressive.

STI Weekly Summary and Macro Economic Factors

Weekly wrap of STI: 

Singapore shares rose for their 1st weekly gains after 5 weeks of decline, as easing fears of an early exit of U.S. monetary stimulus soothed investors' nerves and sent global equity market higher.  Straits Times were headed for its biggest monthly loss in more than a year with a nearly 5% decline in June.

STI opens with gap down @ 3104.28 then it made weekly low@ 3066.41 , just as previous week and took support at this level and recovers , made week high @ 3162.92 finally STI closed above 3150 mark @ 3150.44 with weekly gain of 25.99 points up by 0.82% WoW basis.

Singapore is set to show Asia Pacific's lowest earnings growth rate of 8% for forward 12 months versus an average increase of 17.3 % for the region.

Macro-Economic Factors:

According to the Monetary Authority of Singapore, CPI all items inflation rose slightly to 1.6% in May from 1.5% in April. Service Inflation picked up to 2.5% in May from 2.2% in April; Food Prices were up by2% from last month 1.8%. Accommodation climbed by 5.1 % in May up from 2.4 in April. 

STI Singapore Market Outlook for 28 June 2013

Market Reviews:

Singapore equity markets rallied Thursday, following big gains on Wall Street, as dealers took a downward revision of US economic growth as a sign the Federal Reserve will not reel in its stimulus programme any time soon.

STI opens with good gap up @ 3133.94 and then gain some more some more points and made day high @3152.79. But faced resistance at that level and fell down still not able to fill the gap and took support @ 3121.92 and finally closed with gain of 13.63 points up by 0.44%.

Some 1.93 billion shares, valued at S$1.35 billion were traded. Gainers outnumbered losers 202 to 179.

Market forecast:

Today STI opens with gap and crossed resistance level of 3150, but can’t able to sustain that level and closed lower.

STI formed a candlestick pattern looking like inverted hammer as market opens up and closed lower than its opening, so the upper shadow is visible here and lower shadow is not showing.

This candle shows that bull were in power in opening session but slowly bears hold the power and drift down the index but finally closed with some gain from previous days closing.

As STI trading above 3100 mark so with today’s move now STI looks bullish and can gain further but as we previously mentioned that STI can be bullish above 3250 mark because it is an up sloping trend line which was acted as a major support level, so now it will act as a resistance level for STI.

Support:

STI having immediate support @ 3095 level and below this level it can take support @3080-3060 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3135 and above this level it may take resistance @ 3150-3180 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI fell and closed near to over sold level of 30 trading @ 35.674 and CCI recovers again and trading @ -63.115.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3095	3080	3060	3135	3150	3180

Singapore Stock Market Forecast 27-June 2013

Market Reviews

Singapore shares rose for the second day in a row, led by property and shopping mall stocks after a few brokers issued positive reports on the companies.

STI opens with gap up @ 3105.83and then recovers some points and made day high @ 3118.73 and again fell cover the opening gap and took support @ 3092.54 , after taking support at this level STI closed above 3100 @3104.40 with gain of 14.47 up by 0.47%.

Some 1.93 billion shares, valued at S$1.35 billion were traded. Gainers outnumbered losers 202 to 179.

Market forecast:

Today STI traded above 3100, traded well above 3100 mark and made day high @ 3118. But faced resistance at that level and breached 31oo mark, finally closed above 3100.

STI formed a candlestick pattern called “Spinning High Wave” 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.

Spinning Top High Wave candlesticks and then "join the side-lines". After such a volatile session, traders will often wait for additional confirmation of an upward or downward price movement.

As STI trading above 3100 mark so with today’s move now STI looks bullish and can gain further but as we previously mentioned that STI can be bullish above 3250 mark because it is an up sloping trend line which was acted as a major support level, so now it will act as a resistance level for STI.

Support:

STI having immediate support @ 3080 level and below this level it can take support @3060-3040 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3120 and above this level it may take resistance @ 3135-3150 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI fell and closed near to oversold level of 30 trading @ 33.03 and CCI recovers again and trading @ -95.92. 

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3080	3060	3040	3120	3135	3150

STI SIngapore Market Technical Outlook 26 June 2013

Market Reviews:
Singapore stocks showed little signs of recovery after four days of declines. Straits Times Index shed 0.% to 3,067.3 points, extending a 4 day losing streak which saw the index slump about five 5% to 6 month lows.

STI opens @3069.08 and then recovers some points and made day high @ 3100.20 and again fell down and made day low 3066.41 and finally closed@ 3089.93 with gain of 15.62 up by 0.51%.Some 2.14 billion shares, valued at S$1.64 billion were traded. Losers outnumbered gainers 251 to 191.

Singapore is set to show Asia Pacific's lowest earnings growth rate of 8% for forward 12 months versus an average increase of 17.3 % for the region.

Market forecast:

Today STI traded below 3100, just touched above this number and again traded below 3100 mark. Still closed in green after past negative closing.

STI took support near to 3060 level and from last 3 days it trading in this range. So we can consider this level as a strong support zone for coming days.

As STI trading below 3100 mark so with today’s move now STI looks bearish and can lose further but as we previously mentioned that STI can be bullish above 3250 mark because it is an up sloping trend line which was acted as a major support level, so now it will act as a resistance level for STI.

Technical Support Levels:

STI having immediate support @ 3050 level and below this level it can take support @ 3035-3015 will be the support zone for STI.

Technical Resistance Levels:

STI having immediate Resistance @3095 and above this level it may take resistance @ 3120-3150 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI fell and closed near to oversold level of 30 trading @ 30.22 and CCI fell again and trading @ -121.33.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3050	3035	3015	3095	3120	3150

Straits Times Index, Market Outlook For 25-June 2013

Market Reviews:

Foreign investors continued selling Southeast Asian equities in June, with Indonesia leading as offshore investors rushed for the exits due to a rise in U.S. treasury yields and concern over the Federal Reserve's plan to scale back monetary stimulus.

STI opens with gap down @ 3104.28 and then made a day High @ 3117.85 and faced resistance At that level,  after that it made day low @ 3774.33 and closed @same level with loss of 50.14 points down by 1.61%.Some 2.11 billion shares, valued at S$1.47 billion were traded. Losers outnumbered gainers 401 to 77.

According to the Monetary Authority of Singapore, CPI all items inflation rose slightly to 1.6% in May from 1.5% in April. Service Inflation picked up to 2.5% in May from 2.2% in April; Food Prices were up by 2% from last month 1.8%. Accommodation climbed by 5.1 % in May up from 2.4 in April. 

Market forecast:

STI again fell below 3100 mark and took support @ 3074 mark today, but as it closed @ lowest level so we expect some more downside in near days.

STI formed a highly bearish pattern called Black closing Marubozu, which represents extreme bearishness and it is characterized with a long black body that has no lower shadow but has a upper shadow.

A Black Opening Marubozu indicates that the sellers controlled the price action from the first trade to the last trade. The day opens and prices continue to go down all day long without looking back, thus forming a long black day.

With today’s move now STI looks bearish and can lose further but as we previously mentioned that STI can be bullish above 3250 mark because it is an up sloping trend line which was acted as a major support level, so now it will act as a resistance level for STI.

Support:

STI having immediate support @ 3050 level and below this level it can take support @ 3035-3015 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3095 and above this level it may take resistance @ 3120-3150 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI fell and closed near  to oversold level of 30 trading @ 27.14 and CCI fell again and trading @ -123.11.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3050	3035	3015	3095	3120	3150

STI Singapore Market Weekly Outlook for next Week 24-28 June

Macro Economic Factors:

• SINGAPORE'S non-oil domestic exports (NODX) fell 4.6 % year-on-year in May, extending the 1% dip in April. Compared with the month before, the NODX dropped a seasonally-adjusted 1.1 % in May, following the 1.1 %month-on-month expansion in April.

• Singapore’s home sales rose 5.4 % in May as developers marketed new projects, according to the Urban Redevelopment Authority.

Market Forecast for week ahead:

• STI decline week on week and crossing all support levels, this week it made lower level near to its 3040 mark which is strong support.

• It’s a 5^th continuous fall after making its recent high, as it trading between its 78.6% and 61.8% retracement level, so we are expecting that STI can take support @ 2966 level which is its 61.8% retracement mark.

• We expect more down fall in STI of more 100 points as on weekly graph STI having one support @ its up slopping trend line which ended @ 3000 mark and below this next support comes @ 2960 level.

STI Resistance:

• STI having Resistance @ 3180 and above this level it may take resistance from 3215-3250 levels.

STI Support:

• STI having nearest support @ 3095 below this 3040-3000 will be the support area for market.

Technical Indicators:

Technical indicators are giving Bearish impression.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3095	3040	3000	3180	3215	3250

STI Weekly Summary 17-21 June 2013

Weekly wrap of STI: 

Singapore shares fell for 5th consecutive week. Asian markets extending a sell-off in line with steep losses on Wall Street after the US Federal Reserve signalled a possible end to its multi-billion-dollar stimulus programme.

STI opens with gap for 1st trading day of the week @ 3150 level and then it recovers some points and made week high @ 3235.09, faced resistance at that level and fell again. Took support @ 3065.42 and finally closed @ 3124.45 with 36.98 points down by 1.17% wow basis.

The Singapore market's average 12-month forward PE (price-earnings) at 3,287 and the 50 % retracement level also around that level, we see short-term resistance there. STI faced their biggest one-day decline in more than a year.

STI Market Technical Outlook 20-June 2013

Market Reviews:

Singapore shares drifted lower, snapping three consecutive sessions of gains, with investors waiting for more clarity on the U.S. Federal Reserve's next policy step.

STI opens flat @ 3225.67 and made day high @ 3235.09 and faced resistance at that level and fell down, made day low @3208.52 level and finally closed @3213.79 with loss of 15.76 down by 0.49%.Some 1.85 billion shares, valued at S$1.25 billion were traded. Losers outnumbered gainers 260 to 164.

The Singapore market's average 12-month forward PE (price-earnings) at 3,287 and the 50 % retracement level also around that level, we see short-term resistance there.

Market forecast:

After 5 days of winning strike today STI again closed lower but above 3200 mark, STI faced resistance@ 3235 mark today and didn't able to crossed 3250.

After 5 days of up move today STI formed a candlestick pattern called Tweezers top Harami pattern, this pattern consists of two candlesticks. The first candlestick in this pattern should be a bullish candlestick with a large real body followed by a bearish candlestick with a short real body. The two candlesticks must have either the same high or their real bodies should be at the same high level. The pattern is more reliable when seen in the context of the broader price chart with the pattern appearing at market highs, or near resistance or trend lines.

As we previously mentioned that STI can be bullish above 3250 mark because it is a up sloping trend line which were acted as a major support level, so now it will act as a resistance level for STI.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3180-3160 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3250 and above this level it may take resistance @ 3280-3305 levels.

Technical indicators:

Technical indicators MACD is looking to give bullish crossover, its 14-day RSI closed above 30 trading @ 40.794 and CCI recovered some points and trading @ -36.357.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3210	3180	3160	3250	3280	3305

Singapore Stock Market Outlook for 19-June 2013

Market Reviews:

Most Southeast Asian stocks rose for a third session on Tuesday as recently oversold shares continued to rebound, but volume slid as investors waited for more clarity on the U.S. Federal Reserve's stimulus programme.

Stocks edged higher Tuesday ahead of a 2-day policy meeting of the U.S. Federal Reserve that could have a huge influence on how investors see the future path of the country's monetary policy.

STI opens with gap up @ 3198 level and made low for day @3195.31 and recover from that level and crossed its major resistance level of 3220, and made day high @3233.69 and finally closed @ 3229.55 with gain of 46.11 points up by 1.45%.Some 1.71 billion shares, valued at S$1.33 billion were traded. Gainers outnumbered losers 294 to 132.

Market forecast:

Straits Times Index rose 1.5 % today, recovers from its Thursday’s lower level and also traded above 3200 mark @ 3229 above resistance level.

Again STI formed a white long candlestick pattern which is bullish candle as opens lower and closed higher so we can expect some more recovery in this week. 

As we previously mentioned that STI can be bullish above 3250 mark because it is a up sloping trend line which were acted as a major support level, so now it will act as a resistance level for STI.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3180-3160 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3250 and above this level it may take resistance @ 3280-3305 levels.

Technical indicators:

Technical indicators MACD is bearish, its 14-day RSI closed above 30 trading @ 42.925 and CCI recovered some points and trading @ -41.58.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3210	3180	3160	3250	3280	3305

STI Singapore Technical Outlook for Intraday 18 June

Market Reviews:

Singapore shares recovers from lower level and closed in positive mode, despite a weak batch of US economic data boosting hopes that the Federal Reserve would put off announcing any winding down of its vast stimulus scheme at the end of a policy meeting this week.

STI opens gap down @ 3150.50 marks then it recovers from its lower level of day @ 3144.57 and made day high @ 3195.45. Finally closed @ 3183.44 with gain of 22.01 points up by 0.70%.Some 1.85 billion shares, valued at S$1.22 billion were traded. Gainers outnumbered losers 260 to 162

SINGAPORE'S non-oil domestic exports (NODX) fell 4.6 % year-on-year in May, extending the 1% dip in April. Compared with the month before, the NODX dropped a seasonally-adjusted 1.1 % in May, following the 1.1 %month-on-month expansion in April.

Singapore’s home sales rose 5.4 % in May as developers marketed new projects, according to the Urban Redevelopment Authority.

Market forecast:

Straits Times Index rose 0.7 % today, pulling away from a 6 month trough of 3,094.86 hit last week. Today is the 1st trading day of this week and STI recovers from lower levels, we can expect recovery in this week.

STI formed a white long candlestick pattern which is bullish candle as opens lower and closed higher so we can expect some more recovery in this week. 

Technical Support: Intraday

STI having immediate support @ 3165 level and below this level it can take support @3140-3110 will be the support zone for STI.

Technical Resistance: Intraday

STI having immediate Resistance @3195 and above this level it may take resistance @ 3220-3250 levels.

Technical indicators:

Technical indicators MACD is bearish, its 14-day RSI closed above 30 trading @ 33.484, and level indicating shares are oversold. And CCI recovered some points and trading @ -78.567.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3165	3140	3110	3195	3220	3250

STI Singapore Market Weekly Outlook : 17-21 June 2013

Market Forecast for week ahead: 

It’s a 4th straight week of continuous fall, from its recent high of 3464 mark; it sheds almost 370 points from that higher level.

STI breached its major support levels of 3150-3100, also traded lower from those levels. As STI trading below its 78.6% retracement level and next strong support comes @ 2972.009 which is 61.8% retracement level. So next major support comes at this level only.

We expect more down fall or halt in bearish move but no recovery expected when ever STI will not able to trade above 3250 mark.

STI Resistance:

STI having Resistance @ 3180 and above this level it may take resistance from 3215-3250 levels.

STI Support:

STI having nearest support @ 3110 below this 3080-3040 will be the support area for market.

Technical Indicators:

Technical indicators are giving Bearish impression.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3110	3080	3040	3180	3215	3250

STI Weekly Summary and Macro Economical Factors

Weekly wrap of STI: 

Singapore shares fell for a 4th consecutive week as banking shares came under pressure over concerns the U.S. Federal Reserve may reduce its monetary stimulus programme. The Straits Times Index fell as much as 1% to 3094.86; it’s lowest since December 13.

This week STI every day opens with gap, but for overall week it opens @ 3204.39 and continuously fell lower and lower and made weekly low @ 3094.86 it was also a lowest level since December 13, after taking support at this mark STI closed @3161.43 with loss of 23.29 points down by  0.73% wow basis.

Macro Economic Factors:

Retail sales contracted 0.5% year-on-year in April, according to data released by the Department of Statistics.

Singapore's non-oil domestic exports likely edged higher in May from the previous month, helped by a tepid recovery in the city-state's electronics sector. Singapore non-oil domestic exports to a median 2.5 % from 4.0 % in March.

THE unemployment rate in Singapore stayed low at 1.9 % while fewer jobs were lost in the first quarter of this year, said the Manpower Ministry (MOM).

STI SIngapore Market Forecast 14-June

Market Reviews:
Singapore shares fell to their lowest level this year, largely in line with regional markets, today again. Prices opened lower on Thursday with the Straits Times Index down 33.12 points to 3,120.36.

STI opens gap down @ 3120.36 marks then it crossed the 3100 mark and made day low @ 3094.86 levels and took support at this level, STI recovers from that lower level and made day high @ 3134.18 and finally closed @ 3130.69 with loss of 22.79 with loss of 0.72%.

Some 2.83 billion shares, valued at S$1.96 billion were traded. Losers outnumbered gainers 462 to 82.

Market forecast:

Straits Times Index dropped badly today and crossed its 3100 mark, but finally closed with recover all today’s loss above 3100 mark.

Today STI crossed its 3100 mark and made low of 3094 levelly STI still looking bearish as it is trading below 78.6% retracement level and below its 6 months lower level which is again a bearish sign.

Today STI formed a candlestick pattern called a “window” between the low of the 1^st candle and high of 2^nd candle. The falling window is an indication of bearish sentiment with the window serving as resistance. This bearishness is confirmed by the failure of the following two session to close the window and violate resistance.

Support:

STI having immediate support @ 3110 level and below this level it can take support @3085-3050 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3170 and above this level it may take resistance @ 3195-3220 levels.

Technical indicators:

Technical indicators MACD is bearish, its 14-day RSI closed below 30 trading @ 20.01, and level indicating shares are oversold. And CCI coming down some points and trading @-133.186.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3110	3085	3050	3170	3195	3220