Singapore Stock Market Outlook 07-Aug

Market Reviews:

STI market opens flat and traded higher but can’t hold the same momentum and closed down.

Today STI opens flat @ 3236.19 and then suddenly goes up and made day high @ 3247.85. But cant able to sustain the higher levels and fell down, took support @ 3212.85 and finally closed @ 3224.89 with loss of 16.90 points down by 0.52%.

Some 2.02 billion shares, valued at S$1.09 billion were traded. Gainers numbered 195 while losers numbered 265.

Market forecast:

STI trading below its up slopping supports line; today STI fell below 3220 level and took support just near to 3210 mark.

STI fell below the 50 day EMA level of 3231 today and closed well below this level, so we can expect more down side movement in STI from this level.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 3230 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support:

STI having immediate support @ 3205 level and below this level it can take support @3180-3160 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3230 and above this level it may take resistance @ 3250-3280 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in turning mode and closed @ 50 and CCI recovers again and trading @ -33.85

Singapore Stock Market - Technical Views 06 Aug

Market Reviews:

STI markets were flat to weaker on Monday, telecom firm Singapore Telecommunications Ltd and port operator Hutchison Port Holdings Trust were major losers as both stocks went ex-dividend.

Today STI opens lower @3239.66 and gaining some points and made day high @ 3243.14 and then fell down and made day low of @ 3229.68 and recovers some points. Finally closed @ 3241.79 with loss of 12.34 down by 0.38%.

Some 2.02 billion shares, valued at S$825.9 million were traded. Gainers numbered 161 while losers numbered 278.

Market forecast:

STI trading below its up slopping supports line; today it traded lower levels and closed just near to resistance @ 3250.

STI formed a Doji candlestick pattern, which took support@ 50 day EMA level and closed near to opening after making high. There is no major difference between opening and closing of STI today.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 3230 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support :

STI having immediate support @ 3220 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3260 and above this level it may take resistance @ 3275-3290 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 54.57 and CCI recovers again and trading @ 63.07

STI Singapore Weekly Forecast for 05-09 Aug 2013

Market Forecast for week ahead:

• As we previously mention that STI trading in an inverted pennant, but not given breakout yet.STI trading above its 50 Week EMA level and looking bullish above this.

• As per the pattern forming in weekly graph If STI maintain above 3275 mark then it will be in bullish zone and on the other side if STI breached 3200 mark and 3180, then we can see bearish trend in STI.

• Technical Indicator MACD and RSI looking positive as MACD is showing bullish crossover and RSI trading above 50 i.e. centreline.

STI Resistance:

• STI having Resistance @ 3280 and above this level it may take resistance from 3305-3335 levels.

STI Support:

• STI having nearest support @ 3210 below this 3180-3140 will be the support area for market.

Technical Indicators:

Technical indicators are giving positive impression.

STI Weekly Summary and Micro Economic Factors

Weekly wrap of STI: 

Overall the week was positive string of positive economic data from China, Europe and the United States, but the trading opportunities were very low in market.STI maintain itself above 3220 mark. 

STI opens lower @ 3236.10 and same day made week low @ 3218.90, STI took support at this level and climb upwards and made week high @ 3268.63.finally closed above 3254.13 with gain of 18.03 points up by 0.55%

Micro Economic:

The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' index (PMI) rose to 51.8 points last month from 51.7 points in June, staying above the 50 point level that separates expansion from contraction for a fifth consecutive month. The institute's PMI for the electronics sector, however, fell to 50.3 in July from 51.2 in June.

According to the Ministry of Manpower Unemployment rate in Singapore jumped to 2.1%.Preliminary estimates show that the seasonally adjusted overall unemployment rate was 2.1% in June 2013, up from 1.9% in March 2013 and 1.8% in December 2012.

Share Market Singapore, Technical Outlook for 02-Aug 2013

Market Reviews:

STI markets rose Thursday as investors welcomed the US Federal Reserve's decision to keep its stimulus scheme in place, with its view the economy was growing modestly soothing fears over the programme's future

Today STI opens higher @3244.23 and then made day high @ 3256.60, but faced resistance at higher level and fell down at the level of 3234. Finally closed @ 3243.29 with gain of 21.36 points up by 0.66%.

Some 2.61 billion shares, valued at S$1.14 billion were traded. Gainers numbered 225 while losers numbered 209.

Market forecast:

STI trading below its up slopping supports line; today it traded lower levels and closed just near to resistance @ 3250.

STI forming candlestick pattern called Spinning Top, Candlesticks with a long upper shadow, long lower shadow and small real body are called spinning tops. One long shadow represents a reversal of sorts; spinning tops represent indecision. The small real body (whether hollow or filled) shows little movement from open to close, and the shadows indicate that both bulls and bears were active during the session. Even though the session opened and closed with little change, prices moved significantly higher and lower in the meantime. Neither buyers nor sellers could gain the upper hand and the result was a standoff. After a long advance or long white candlestick, a spinning top indicates weakness among the bulls and a potential change or interruption in trend. After a long decline or long black candlestick, a spinning top indicates weakness among the bears and a potential change or interruption in trend.

As we can see on daily chart STI formed a pattern which replicate like rising wedge and as per the pattern if STI maintain above its up sloping resistance line i.e. 3270 mark then we can see more upside move in the Index, and for other side if STI breached its up sloping support line @ 3230 mark then next support will come @ 3180 level and after that we can see bearish move in market.

Support:

STI having immediate support @ 3220 level and below this level it can take support @3195-3180 will be the support zone for STI.

Resistance:

STI having immediate Resistance @32650 and above this level it may take resistance @ 3275-3290 levels.

Technical indicators:

Technical indicators MACD turn to bearish , its 14-day RSI is in recovering mode and closed @ 54.57 and CCI recovers again and trading @ 63.07