Weekly wrap of STI:
STI formed a Green candle for this week and performed well as in starting it got a bit effected from the movement of the European market but later it took a up-side and made a high of 3273.95 and closed well at 3262.59
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3250 | 3230 | 3200 | 3290 | 3310 | 3330 |
Technically the counter has a good support @3220 and the resistance of 3285 where the 50 Days EMA is 3164 & 20 Days EMA is showing 3181
| STRAIT TIMES WEEKLY WRAP | |
| OPEN | 3253.74 |
| HIGH | 3273.95 |
| LOW | 3221.37 |
| CLOSE | 3262.59 |
| CHANGE (In Points) | 88.44 |
| % CHANGE | 2.71% |
Macroeconomic factors:
- Non-Landed private homes fall to 1.7% in April for the Resale Price. As it touched to 16 months low from Dec 2012.
- CNMC attained a net profit of US$1.26 million (S$1.58 million) with a large jump in gold production, recovered a loss of US$0.6 million the year before.
- United Overseas Bank Limited’s (UOB) awarded with a rating of “BBB” by Fitch rating Agency
- Profit for CDW Holding was announced yesterday will a sharp fall of 50.4% where a year ago it was 1.41 million major reason that pull the profit was higher material cost so the earning per share (EPS) came @0.30 US cent and Revenue grew 2% to US$34.75 million
- Sinarmas Land’s Q1 earning fall to SG$93.3 million due to weaken revenue to low land sales.
- Earnings of Olam International for Q1 jumped more than doubled to SG$396.1 million after breakthrough of higher depreciation and tax expenses attained previous year.
- Q1 earning for Nam Cheong Limited doubled to 71.1 million Yuan, as revenue rose because of shipbuilding segment.
Market Forecast for week ahead:
As the performance of the STI was weak in last week but for this weak it performed well and made a green candle.
Technically STI looks like it would taste for the new resistance and can approach for the level of 3280 global economic factor & market sentiment will cause the major change in the price value of STI.
Technical Indicators:
Signal line @19.83 of MACD is above the difference line @16.58 where RSI is at 61.24 CCI is performing at 109.11
Weekly Technical view on KLCI
Weekly wrap of KLCI:
KLCI formed a Long Green candle for the week and break the resistance which was stopping the price to take an up-move the price for the week opened at 1865.76 and made a high of 1883.34, closed at same @ 1883.34
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 1875 | 1865 | 1850 | 1895 | 1905 | 1920 |
A Marubozu Pattern was formed for the week a gap up opening was noticed on the daily chart, which gave a good upside to the KLCI. Hear the Technical Indicator support the market with a good volume. Else the CCI is @139 and the RSI is above the centre line @67.58 and is touching the overbought zone.
| KLCI WEEKLY WRAP | |
| OPEN | 1865.76 |
| HIGH | 1883.34 |
| LOW | 1864.55 |
| CLOSE | 1883.34 |
| CHANGE (In Points) | 16.62 |
| % CHANGE | 0.89% |
Market Forecast for week ahead:
Investment & Trading 