SGX - Singapore Stock Market Forecast 09-April 2013

Market Reviews: 

Singapore equities fell for straight 3^rd day after making its all time high @ 3331.26.

STI opens down @ 3293.86 then recover some 5 points and made day high @ 3298.85 and again fell down and made day low @ 3283.52 and finally closed @3288.47 with loss of 11.31 points down by 0.34%.

Some 3.74 billion shares, valued at S$1.39 billion were traded. Losers outnumbered gainers 307 to 142.

Market forecast:

STI, after making its all time high facing resistance at higher levels and fell from that level.

If we see on charts we can find that the trading volumes have been decreasing and many stocks falling after making its high. This is technically showing weakness in the market.

STI cant able to sustain above its resistance level of 3320 and slips below this mark, next support comes @ 3280 mark. Whenever STI sustain above 3300 mark we can be bullish on it.

Support:

STI having immediate support @ 3280 level and below this level it can take support @3260-3240 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3305 and above this level it may take resistance @ 3320-3335 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are looking bearish with today’s move.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3280	3260	3240	3305	3320	3335

Singapore Shares Slides; Yoma Strategic Holdings Outperforms

Singapore shares traded slightly lower, but Yoma Strategic Holdings Ltd surged to its highest in nearly a month after it joined a consortium to bid for one of the two mobile phone licenses that Myanmar is expected to award this year.

The Straits Times Index was down 0.3 percent while MSCI's broadest index of Asia-Pacific shares outside Japan declined 1.3 percent.

Yoma shares rose as much as 13.4 percent to S$0.845, their highest since March 8. More than 56 million shares were traded, 5.9 times the average full-day volume over the past 30 days.

Yoma said late on Thursday it formed a consortium with the Digicel Group and Quantum Strategic Partners Ltd, part of the investment group led by George Soros.

"This development is non-core at the moment, but it is a substantial and attractive business which would fit nicely into Yoma's longterm plan to be a conglomerate," DBS Vickers said.

OCBC Investment Research however said Yoma's eventual effective stake in the consortium is still unclear.

OCBC said it also expects Yoma to face fierce competition from other contenders, including a Vodafone-China Mobile tie-up and major telcos like Singapore Telecommunications Ltd , for the licenses.

STI Singapore Markets Outlook for 05-April 2013

Market reviews:

Singapore equities opened lower today @ 3315 mark and traded in a very narrow range of 3309.13-3318.02, after a zigzag movement finally STI closed @ 3307.8 levels with loss of 13.97 points down by 0.42%.

Some 2.91 billion shares, valued at S$1.13 billion were traded. Losers outnumbered gainers 285 to 147.

Market forecast:

After making all time high yesterday, STI opens lower today and traded in a very narrow range of 9 points and closed lower.

As yesterday STI formed a candlestick pattern black spinning top which was formed after a uptrend and after uptrend this candle denotes bearishness in market.

Today STI formed a candlestick pattern look like “The Black Closing Marubozu” is a single candlestick pattern characterized by its long black body. It does not have a lower shadow but it has an upper shadow. It is an extremely strong bearish candlestick pattern.

STI cant able to sustain above its resistance level of 3320 and slips below this mark and took support @ 3309 mark. Whenever STI sustain above 3300 mark we can be bullish on it.

Support:

STI having immediate support @ 3295 level and below this level it can take support @3280-3260 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3320 and above this level it may take resistance @ 3335-3350 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are in recovering with today’s move.

Straits Times Index; Singapore Market Forecast 04-April

Market Reviews:

Singapore equities opens higher today above its 3320 mark @ 3323.81 mark and then it comes slightly down level and made day low @ 3311.76 and took support at this level and traded again the upwards and finally made day high @ 3331.26 and finally closed @ 3321.77 mark with gain of 4.18 points up by 0.13% .

Today again Singapore closed @ its week high level and gainers leads losers 223-216. Volume was 3.28 billion shares valued at S$1.42 billion.

Market forecast:

STI opens above the resistance level of 3320 and closed above this mark. It’s a positive sign for coming days.

STI closed just below the opening level and with this formed a candlestick pattern called “Black Spinning Top” it is a single candlestick pattern. Its shape is a small black body with upper and lower shadows having a greater length than the body's length.

The market moves higher and then sharply lower, or vice versa. It then closes below the opening price creating a black body. This represents complete indecision between the bulls and the bears. The actual length of the shadows is not important. The small body relative to the shadows is what makes the spinning top

STI just closed above the resistance line and it is a bullish signal as STI closed @ Resistance of 3320-3322 mark also cross this level but cant able to sustain above this level, and today it closed very near to this mark.

Support:

STI having immediate support @ 3295 level and below this level it can take support @3280-3260 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3335 and above this level it may take resistance @ 3350-3365 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are in recovering with today’s move.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3295	3280	3260	3335	3350	3365

Singapore Stock Market Forecast 03-April 2013

Market Reviews:

Asian markets were mixed on Tuesday in the first full session after the Easter break, while Japanese shares sank for a second straight day as the yen extended its recent gains.

Singapore equities open @ 3302.77 and made day low @ 3300 level and recovers some point and made 3313 and again fell down and took support 3302 levels but finally recovers and ended @ day high @ 3317.59 with gain of 10.010 points up by 0.30%.

Some 3.60 billion shares, valued at S$1.15 billion were traded. Losers outnumbered gainers 241 to 201.

Market forecast:

STI opens down, also took support @ 3300 mark and soon recovers and closed @ day high @3317 mark. STI has given its all time high closing today @ 3317 mark.

With the closing at day high STI formed a candlestick pattern called “Closing Marubozu” it is a single candlestick pattern characterized by a long white body with no upper shadow. This is an extremely strong bullish candlestick pattern. White Closing Marubozu can possibly be the first part of a bullish continuation pattern or it may also be interpreted as a bearish reversal candlestick pattern depending on the preceding day's candlesticks.

STI just closed above the resistance line and it is a bullish signal as STI having Resistance @ 3320-3322 mark and cant able to sustain above this level, and today it closed very near to this mark so we expect that it will crossed this 3320-3322 mark and maintain this.

Support:

STI having immediate support @ 3295 level and below this level it can take support @3280-3260 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3320 and above this level it may take resistance @ 3335-3350 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are in recovering with today’s move.