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Weekly
Technical view on STI
Weekly wrap of STI:
This was the good week for STI & it
made a Green candle for this week continuing the bullish trend of
last week as there was a gap up opening of around 8 points in this
week.
STI cover the range of 34 points for
this week. A spinning top candle was formed for this week and with a
short real body. As the whole week was full of Q1 result &
dividend distributed by the counters so the bullish trend is expected
in the coming week.
|
Support 1 |
Support 2 |
Support 3 |
Resistance 1 |
Resistance 2 |
Resistance 3 |
|
3250 |
3230 |
3200 |
3280 |
3300 |
3330 |
Macroeconomic factors:
- Singapore consumer price or inflation rose by 1.2% in March, where food inflation rose by 2.9% & health care inflation by 3.4%
- A fall of 22% reported in net profit of Singapore Exchange a net profit of S$ 75.8 million was reported
- Gerard Ee elected as a President of Institute of Singapore Chartered Accountants.
- CapitaMall Asia made a jump of 2.8% to S$75.3 million in Net Profit for 1Q 2014.
- RH Perto Gas Investments proposed sale of 49% Stake in RHP for US $ 2.79Million
- Shares in Catalist listed SHC Capital Asia surged on Monday that it is discussing a sale of its core insurance business
Market Forecast for week ahead:
The market is moving in the uptrend and
is supported by the good volume the technical indicators are also
positive for the next week. The expected range for the coming week of
STI would be 3250- 3300.
In the coming week there will be many
counters like MapleTree, ThaiBev,SGX, CapitaMalls Asia, OCBC Bank and
many more which will be delivering there dividend so the fundamental
will be supportive for the up move of STI.
|
STRAIT TIMES WEEKLY WRAP
|
|
|
OPEN |
3260.78 |
|
HIGH |
3284.70 |
|
LOW
|
3250.09 |
|
CLOSE |
3267.57 |
|
CHANGE (In Points) |
13.77 |
|
% CHANGE |
0.42 % |
Technical Indicators:
Technical Indicators are showing the
uptrend where RSI is above the centre line @52.27 else CCI is @
181.57 which means that there is still a fair move for STI to take
upside.
Weekly
Technical view on KLCI
Weekly wrap of KLCI:
KLCI opened at 1851.61 for this week,
took the uptrend and made a high of 1870.89 and closed at 1860.98 for
this week. A green candle was formed for this week. For this week
KLCI make a movement of almost 20 points.
A Inverted hammer Pattern was formed
for this week with a long real body and a long upper shadow. 20 Days
EMA is @1830 where the 50 Days EMA is @ 1792.
|
Support 1 |
Support 2 |
Support 3 |
Resistance 1 |
Resistance 2 |
Resistance 3 |
|
1845 |
1825 |
1800 |
1875 |
1890 |
1915 |
Market Forecast for week ahead:
KLCI is
performing at its peak and is able to sustain itself form last three
week so it can be said that now it is above the crucial level and
expected to break the resistance.
Technical Indicators:
Technically KLCI is having a bullish
trend on the chart where CCI is @121.03 & RSI is about to enter
in the overbought range @62.83
|
KLCI WEEKLY WRAP
|
|
|
OPEN |
1851.61 |
|
HIGH |
1870.89 |
|
LOW
|
1849.68 |
|
CLOSE |
1860.98 |
|
CHANGE (In Points) |
8.29 |
|
% CHANGE |
0.44 % |
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