SGX Singapore - Daily Technical Review 20th Jan

Share prices opened higher with the Straits Times Index up 6.56 points to 3,314.26.Singapore shares opened higher and held on to gains. Official data just released showing China's economy expanded 7.3% in 4Q 2014,Asian markets rallied in relief  after China reported its economy had not slowed as far as many had feared, a rare glint of brightness amid gloom over the global outlook.
Stock Signals

STI Day Performance

Open 3315.57

High 3338.69

Low 3311.59

Close 3334.02

Change(Points) +26.32

% Change +0.80

Volume 1208.0M

Rise 249

Fall 135

Unch 409

Market forecast for STI: We may expect bullish trend in STI in range of 3334 to 3373.

Technical Indicators: RSI is at 52 and CCI is at -26.

STRAITS TIME  LEVELS

Support 1 3300

Support 2 3277

Support 3 3240

Resistance 1 3350

Resistance 2 3371

Resistance 3 3404

Important Factor for today:-

• Singapore’s sovereign wealth fund GIC is investing 10.2 billion rupees (US$165.5 million) in India's Bandhan Financial Services, which is setting up one of the country's two newest banks.
• JTC Corporation (JTC) has awarded the tender for an industrial site at Tuas South Street 9 (Plot 52) to the highest tenderer, Asiaone Logistics & Warehousing Pte Ltd, for S$7.04 million.
• Rolls-Royce has unveiled the first made-in-Singapore Trent 1000 engine, which will be used in local budget carrier Scoot's new Boeing 787 aircraft.
• Some 33 per cent of Singaporeans expect their standard of living to fall when they retire, far above the global average of 23 per cent who said so, a global survey has found.
• Water treatment firm China Everbright Water Limited is placing out 120.7 million new shares at S$0.94 each to raise S$113.4 million for growth and expansion purposes. The firm said in an announcement early morning that the money came from International Finance Corporation (IFC) and Dalvey Asset Holding (DAH).
• The war for Singapore talent has heated up with Fair Consideration Framework, and the private and public sectors are looking overseas to lure them back home, a new survey found .