STI Technical Outlook For Tomorrow 10-Jan

After two days of losing streak STI today took support near the 3200 mark and closed just above the resistance level of 3220.

As we yesterday mention in our report that “on the daily chart we can see the strait upward rally after taking support @ 2931.60 and made a channel called bullish channel. But on the other side with this sharp upward rally STI now trading in the support level of this bullish channel and if it breached this channel then we can see the sharp downtrend in the STI” , but STI took support on that support line and closed well above that level.

For the coming days this channel will act the major trading zone for STI. If STI will able to move above the upper level of channel than it will move further upside.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside. Technical indicators are seem to overbought zone on charts.

STI Support Levels

STI having immediate support @ 3200 level and below this level it can take support @3180-3150 will be the support zone for STI.

STI Resistance Levels

STI having immediate Resistance @3240 and above this level it may take resistance @ 3260-3280 levels.

STI Singapore Market Forecast for 09-Jan 2013

Asian equity markets traded largely in the red, tracking a somewhat cautious sentiment on Wall Street going into the unofficial start of the Q4 earnings season on Tuesday. STI shares closed lower on profit-taking on Tuesday.

Singapore share prices opened flat @ 3221.86 levels and then traded on lower levels and breached the 3200 mark and finally made a day low below this level @ 3198.38 levels and finally closed above the 3200 mark @ 3205.52 with loss of 12.74 points down by 0.40%. Volume was 5.74 billion shares valued at S$1.73 billion changing hands. In the broader market, losers beat gainers nearly two to one.

Market forecast - 09 Jan 2103

it’s a 2^nd consecutive day where the STI traded in the down trend and today it slips below the 3200 mark but maintain itself to closed above the 3200 mark @ 3205.52.

On the daily chart we can see the strait upward rally after taking support @ 2931.60 and made a channel called bullish channel. but on the other side with this sharp upward rally STI now trading in the support level of this bullish channel and if it breached this channel then we can see the sharp downtrend in the STI.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

Support:

STI having immediate support @ 3180 level and below this level it can take support @3150-3120 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3220 and above this level it may take resistance @ 3240-3260 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Picks - Technical Calls

Buying Recommendation on Tat Hong

 The stock broke out of its short term consolidation triangle yesterday on rising volume. We expect prices to test the upper end of the uptrend channel resistance I the near term.

 Its MACD and RSI are beginning to turn up one more after holding at their respective support levels.

 The stock is a buy now with a stop placed below S$1.36. The next resistance at S$1.48 is likely to be tested. We would not discount the rally to surpass that level and test S$1.55 next.

STI Singapore - Intraday Market Forecast 08 Jan

Market forecast

After euphoria of last week, today STI closed in the negative numbers. But still it looks positive as it closed above the 3200 mark.

Today STI made its all time high mark but closed @ day low level, for the more positive move STI have to maintain itself above the 3200 mark.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

Support

STI having immediate support @ 3200 level and below this level it can take support @3180-3150 will be the support zone for STI.

Resistance

STI having immediate Resistance @3240 and above this level it may take resistance @ 3260-3280 levels.

Technical indicators

Technical indicators are seem to overbought zone on charts.

Stocks Factor To Watch Today - SGX SIngapore

STOCKS TO WATCH

SINGAPORE EXCHANGE LTD

Singapore Exchange said its securities turnover in December was up 39 percent to S$23.2 billion ($18.9 billion) from a year earlier, while securities daily average value grew 46 percent to S$1.2 billion.

OCEAN SKY INTERNATIONAL LTD

Ocean Sky said it had agreed to sell its apparel operations business to Hong Kong-listed Luen Thai Holdings Ltd for $55 million. Ocean Sky intends to pay a special dividend of S$0.016 per share on completion of the sale.