SGX Singapore : STI Technical Analysis 19 Aug

Market Review for STI:
Singapore share prices opened higher with the Straits Times Index up 6.25 points to 3,319.03. Prices formed a inverted hammer pattern for the day, which let prices to rebound.

STI Day Performance
Open	3318.68
High	3326.69
Low	3313.47
Close	3315.03
Change(Points)	3.650
% Change	0.11%
Volume	1733.2M
Rise	227
Fall	163
Unch	725

Market forecast for STI:
Prices ended higher at 3316.43 and Market stood at resistance level 3307. It is expected to rebound on completion of rounding bottom pattern.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3306	3296	3281	3326	3338	3351

Technical indicators: 

RSI is above the centre line at 59.568 and CCI is at 78.358.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
SEMBCORP IND	5.17	-1.15	CAPITALAND	3.36	2.13
GOLDEN AGRI-RES	0.52	-0.95	THAIBEV	0.65	1.56
COMFORTDELGRO	2.48	-0.8	OCBC BANK	10.31	1.08
JMH 400 USD	60.71	-0.54	CAPITAMALL TRUST	1.995	0.76
JSH 500 USD	36.48	-0.44	HPH TRUST USD	0.71	0.71
SEMBCORP IND	5.17	-1.15

Important Factor for today:-

• Singapore’s Oversea-Chinese Banking Corp (OCBC) said yesterday it plans to raise S$3.37 billion (RM8.53 billion) in a rights issue to boost its balance sheet following its takeover of Hong Kong’s Wing Hang Bank.
• LOCAL payment performance deteriorated further in the Q2 of this year, according to the latest statistics from the Singapore Commercial Credit Bureau (SCCB), since Q3 2013, overall payment promptness of local firms fell sharply below the 50% mark in Q2 2014.
• Olam International on Monday announced that it was selling a 25% stake in its packaged food business to Japanese noodles manufacturer Sanyo Foods for US$187.5 million.
• Nam Cheong announced its entry into a joint venture (JV) with smaller shipping firm, Marco Polo Marine, to invest in and operate vessels together.