SGX: STI Weekly Technical Analysis

Posted: February 15, 2014 in Uncategorized

Weekly wrap of STI:
This was the good week for the Singapore Stock Exchange as the market took a good momentum for the complete week. As on 10th Feb 2014 market opened at 3021.89 and made a low of 3003.48 where else today STI gave a high of 3051.48 and closed at 3039.12 if compare the week low & high the STI almost covered the movement of positive 48 points.

STRAIT TIMES WEEKLY WRAP
OPEN
3021.89
HIGH
3051.48
LOW
3003.92
CLOSE
3013.14
CHANGE (In Points)
+27.37
% CHANGE
+0.91%

Macroeconomic factors:

  • Singapore’s retail sales fell 5.5 % from a year ago in December 2013, hit by lower motor vehicles sales. Car retailers reported a whopping 32 % drop in sales in December, compared to a year ago. Excluding motor vehicles, retail sales went up 0.3 %Retail sales of watches & jewellery, telecommunications apparatus & computers, furniture & household equipment and recreational goods also fell between 1.1 per cent and 6.3 % from year-ago levels.
  • DBS & SingTel were the stocks that gave the highest turnover for the week. Transport/Communication contributed 45.22% while 24.32 service for the up side movement of the STI.
  • As the whole week was full of some or other stock’s results and dividends Stocks like MTQ Corporations, Capital Mall Trust, Pacific Andes, Saizen Real Estate Investment Trust, SingTel &CapitalmallsAsia , OCBC all came up with good news.
Market Forecast for week ahead:
STI manage to its 2nd consecutive week of bullish move, Index opens lower but it recovers and traded above 200 week EMA of 3029 level and closed well above this level.
 STI trading range were between 3000 to 3050 , but we saw it traded ranging mostly between 3025-3050, but it can’t able to sustain above 3048 level for long time and closed @ 3038 mark. So for coming week we can expect to cross 3050 mark.
If STI will maintain itself above 3050 level then its next resistance will come at 3085-3116 i.e 20 week MA for STI. On the other side 3021 mark will act major support for STI. Also CPI data release on 20th Feb will give direction to market.
Next week Announcements:
STI Resistance:
STI having immediate Resistance @3050 and above this level it may take resistance @ 3065-3085
STI Support:
STI having immediate support @ 3020 level and below this level it can take support @3005-2985 will be the support zone for STI.
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3085 3065 3050 2985 3005 3020
Technical Indicators:

Technical indicators MACD given its bullish crossover in Daily chart, RSI and CCI are trading in recovery mode. RSI is in oversold zone so we can expect recovery in it.

Corporate Action & Result Calendar as on 17th Feb 2014

Company Name Type Expiry Date Record Date Date Paid/Payable Particulars
PerennialCRT Ex-Dividend 19 Feb 2014 11 Mar 2014
HPH Trust US$ Ex-Dividend 19 Feb 2014 28 Mar 2014
SingPost Ex-Dividend 19 Feb 2014 28 Feb 2014
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