STI & KLCI Daily Technical Analysis

Posted: April 29, 2014 in Uncategorized

Market Review for STI:
STI made a gap down opening for today, down by 12 points at 3230.34 and made a low of 3222.77 further gave the closing at 3237.74. As it formed a green candle for the day and gave closing just above the major support of 3234.


STI Day Performance
Open 3230.34
High 3238.78
Low 3222.77
Close 3237.74
Change(Points) -4.97
% Change -0.15 %
Volume 1359.3M
Rise 167
Fall 217
Unch 692

Market forecast for STI:
Today STI formed a hammer pattern on the daily chart, which has a real body without any upper shadow and a long lower shadow. As published in yesterday’s report STI took a correction and is trying to fill the earlier gap.
Technical indicators:
RSI is just above the centre line @57.02. Where CCI is @ 6.58

Support 1 3227
Support 2 3212
Support 3 3195
Resistance 1 3247
Resistance 2 3262
Resistance 3 3280

Important Factor for today:-

China Sunsine Net Profit grew to RM22.8Million i.e. 95% on YOY basis for 1Q2014

Vard Holding announced low in profit for Q12014 as the earning fall by 52.5% from a year ago to S$19 million or 1.61Cents per share.

Greater Eastern Holdings reported a jump of 12% in Net Profit for Q12014 to 231.6 million. Else it was 207.5million over a year ago.

Far East Hospitality Trust posted a fall of 1.30 SG Cent in distribution per stapled security for Q12014.

United Overseas Bank share falls as a dividend of 50cent per share was declared.

Market Review for KLCI:
KLCI opened lower at 1852.27 down by 3.47 points. Where the day range of KLCI was 7.07 points else the low of the day was same the opening price and the closing was the same of the high price @1859.27.

KLCI Day Performance
Open 1852.27
High 1859.34
Low 1852.27
Close 1859.34
Change(Points) 3.60
% Change 0.19 %
Volume 2500.9M
Rise 192
Fall 728
Unch 1237

Market forecast for KLCI:
A green candle was formed for the day with a long real body & without upper and lower shadow. Marubozu pattern was formed for the day which is also called as a shaven head candle. As on today’s closing KLCI is standing near to major support of 1850 and some correction is expected.
Technical indicators:
The technical indicators are not that strong on the chart as RSI is at 56.38 & CCI is at 5.31.

Support 1 1850
Support 2 1840
Support 3 1825
Resistance 1 1870
Resistance 2 1880
Resistance 3 1895

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