Singapore Stock Market Weekly Technical Analysis

Posted: May 9, 2014 in Stock Tips

Weekly wrap of STI:

STI is trading is a very tight range of 3220 to 3280 and had made this levels as the major resistance & support various result like Q1 and Dividend were declared in this week PMI for Singapore helped the STI to get some better move when all the Asian market were followed the losses on the wall street dew to manufacturing index of China.

Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3240 3220 3190 3265 3285 3310

Hammer pattern candle was formed by STI on the weekly chart. With a small real body and a long lower shadow. Hear the 20 Days EMA is @3172.46 and 50 Days EMA is @3160.70

STRAIT TIMES WEEKLY WRAP
OPEN 3260.52
HIGH 3263.80
LOW 3226.88
CLOSE 3252.13
CHANGE (In Points) 0.42
% CHANGE 0.01%

Macroeconomic factors:

  • Crisis in Ukraine are also having a negative effect on the market, so the investors are having a narrow vision.

  • SGX-ST will be delisting the Asia Power Corporation officially form 28 May 2014,

  • All Asian Market opened down today as followed by the losses on the Wall Street supportively the Manufacturing Index of China was contracting faster than initial Results. Hence STI opened up by 8 Points @3260 and later came down.

  • Purchasing Manager’s Index (PMI) for Singapore increased to 51.1 in April where in March it was 50.8 was in March.

  • Singapore Exchange announced that the total traded value of Securities fell from 17% to 25.8 Billion in April where the Commodity trading and the Clearing activity grew on YOY basis.

  • Acquisition of 89.18% Stake was made in Natural Gas Business in China from China Print Power, valued to HK$ 515.4 Million.

  • To strengthen the position in the Iron Ore market Singapore Exchange had come with options on its futures for Iron Ore and by the June 2014 it would bring coking coal swaps and it will expand its current thermal coal production suite for coal.

  • Job advertisements jumped 38% on YOY basis in Singapore for the professionals.

  • A record of largest number of Bond listing in April was marked so far as it was up by 24% on YOY basis.

Market Forecast for week ahead:

  • As the performance of the STI was in a very range bound for this week and closing for the week was as the same for the last week @ 3252.

  • Technically STI can fall for multiple support and it would be possible by the global economic factor & market sentiment to sustain above the mark of 3280.

Technical Indicators:

Signal line @5.04 of MACD is below the difference line @26.54 where RSI is at 60.27 CCI is performing at120.41

Weekly wrap of KLCI:

KLCI is has formed a red candle for the day and currently it is trading in a range bound a strict range of 1850 to 1875 can be measure on the chart.

KLCI WEEKLY WRAP
OPEN 1866.93
HIGH 1869.38
LOW 1853.31
CLOSE 1866.72
CHANGE (In Points) 2.36
% CHANGE 0.12

A Doji candle was formed on the weekly chart for this week, where the open and close were almost the same and a long shadow was made Difference line of MACD is @18 & the Signal line is @ 15.

Market Forecast for week ahead:

  • Technical Indicator RSI is above the centre line @63.79 and the CCI is @104.82

  • For the coming week the KLCI can took some correction and can break its major support of 1850.

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