Singapore & Malaysia Stock Market Analysis for 22nd April

Posted: April 21, 2014 in Uncategorized

Market Review for STI:
Today STI opened at 3260.78 and made a high of 3264.21 later pressure was seen in the market and it made a low of 3250.91 while closed at 3255.83. There was the volume of 1706.5Million.

STI

STI Day Performance
Open 3260.78
High 3264.21
Low 3250.91
Close 3255.83
Change(Points) 2.03
% Change 0.06%
Volume 1706.5M
Rise 176
Fall 217
Unch 679

Market forecast for STI:
A Red candle was formed for the day a Spinning Top candle was formed with a short real body and short upper and lower shadow. As published in our weekly report; that STI would take some corrections, today it formed a red candle for the day and is expected to be in same correction mode for few trading sessions.

STRAITS TIME LEVELS
Support 1 3245
Support 2 3230
Support 3 3215
Resistance 1 3265
Resistance 2 3280
Resistance 3 3295

Technical indicators:
RSI is above the centre line @72.09 is about to move in overbought level. Where CCI is @ 130.87
Important Factor for today:-

  • CapitaMall Asia made a jump of 2.8% to S$75.3 million in Net Profit for 1Q 2014.
  • RH Perto Gas Investments proposed sale of 49% Stake in RHP for US $ 2.79Million
  • Shares in Catalist listed SHC Capital Asia surged on Monday that it is discussing a sale of its core insurance business.
  • Trading in Chemoil will be suspended from 5 May 2014 as Friday 2nd May will be the last trading for Chemoil.

Market Review for KLCI:
Today KLCI opened at 1851.61 and took the up move, made a high of 1864.94 and gave closing near to its high at 1862.93 while at the time of opening KLCI opened down with a lower side of 1849.68

KLCI

KLCI Day Performance
Open 1851.61
High 1864.94
Low 1849.68
Close 1862.93
Change(Points) 10.24
% Change 0.55%
Volume 2608.9M
Rise 523
Fall 326
Unch 1299

Market forecast for KLCI:
A long green candle was formed for the day with a long real body and short upper and lower shadow. As KLCI has recovered from down side and now is in a complete uptrend and looks forward to break its resistance of 1872 in the coming trading days.
Technical indicators:
RSI is above the centre line @62.42 else CCI is @111.71

KLCI LEVELS
Support 1 1852
Support 2 1840
Support 3 1825
Resistance 1 1872
Resistance 2 1885
Resistance 3 1899
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