STI Singapore Market Forecast For The Week 07-11 Jan 2013

Sup 1	Sup 2	Sup 3	Res 1	Res 2	Res 3
3200	3160	3140	3260	3280	3315

Macro economic factors:

• The Singapore economy grew at a modest pace of 1.1% on a year-on-year basis in the fourth quarter of 2012. On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew by 1.8%, an upturn from the contraction of 6.3% in the preceding quarter.

• Singapore Purchasing Managers index (PMI) dipped to 48.6 points last month from 48.8 points in November, hurt by further declines in the sub-indexes for new orders and new export orders, the Singapore Institute of Purchasing & Materials Management (SIPMM). 

Market Forecast for week ahead:

• STI currently traded above the 3200 mark, and looking more bullish above this level. STI made a high of 3131 mark and having a Resistance @ 3135 level.

• STI trading above the 61.8% retracement level also the 3200 psychological resistance level so above this STI looks further bullish on charts. On the downside, 3140 is still the immediate support, with the subsequent base pegged at the 3110 key resistance-turned-support.

• For the coming week STI look volatile, because it is trading above the last 2 years higher level of 3200 ,so can face some pressure to maintain above this level and if hold itself above this than we can see the 3300 mark soon.

STI Resistance:

• STI having Resistance @ 3260 and above this level it may take resistance from 3285-3315 levels.

STI Support:

• STI having nearest support @ 3200 below this 3160-3140 will be the support area for market.

Technical Indicators:

Technical indicators give the impression of being in overbought zone.MACD gives bullish cross over and RSI move above its centreline area @ 68.45.

STI Market Outlook for 04-Jan 2013

Market forecast:

It’s a 2^nd day of Singapore equities to extended the gains and made highest level since August 2011, made a high of 3231.39 levels and closed with gains .Now looking to crossed higher levels.

Today STI formed a candlestick pattern that is a White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern. It formed as opens lower level and made high with good range and closed with little below the high so the upper shadow appears. 

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.

SGX Singapore, Stocks To Watch Today

STOCKS TO WATCH

FRASER AND NEAVE LTD

Thai billionaire Charoen Sirivadhanabhakdi extended his $7.2 billion offer to take over Singapore property and drinks conglomerate Fraser and Neave for the fifth time until Jan. 10.

 CAPITALAND LTD

Southeast Asia's largest property developer, CapitaLand Ltd, made changes to its top management on Thursday as part of a reorganization of its business units.

Singapore Stock Market Forecast 03-Jan 2013

Today, STI crossed its 3200 mark and traded in the uptrend, made and closed above this level. Now looking to crossed higher levels.

Today STI formed a candlestick pattern that is a White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern. It formed as opens lower level and made high with good range and closed with little below the high so the upper shadow appears.

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.

STI SUpport Level

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

STI Resistance Level

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.

STI Market Reviews - EOD Summary 02-Jan

Singapore shares slipped by midday, snapping four straight sessions of gains, as the deadline to reach a budget deal to avoid a "fiscal cliff" in the United States closed in without an agreement.

STI opens flat @ 3167.08 marks, after opening it traded in the upward direction and made day high @ 3210.02, and finally closed @ 3201.74 levels with the gain of 34.66 points up by 1.09%.Some 4.63 billion shares, valued at S$1.7 billion were traded. Gainers outnumbered losers 486 to 74.

The Singapore economy grew at a modest pace of 1.1% on a year-on-year basis in the fourth quarter of  2012. On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew by 1.8%, an upturn from the contraction of 6.3% in the preceding quarter.