Singapore/Malaysia Weekly Trading Review

Posted: May 24, 2014 in Uncategorized

Weekly Technical view on STI
Weekly wrap of STI: STI formed a Green candle for this week and performed well A Hammer pattern was formed for the week. And STI was able to sustain itself above the level of 3260 A range of 27 points was covered by STI in this week .
Technically the counter has a good support @3251 and the resistance of 3303 where the 50 Days EMA is 3169 & 20 Days EMA is showing 3190.

Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3265 3245 3220 3290 3315 3330

Macroeconomic factors:

  • Housing & Development Board (HDB) launched 6,454 public flats in May, which includes mature and non-mature towns and estates. Total 9707 units are offered this year.
  • In China, the manufacturing activities sharply improved and hit its 5 months high.
  • The Singapore economy grew 4.9% in Q1 of 2014, slightly lower than the government’s April estimate of 5.1%.
  • 1 Domestic wholesale trade in Singapore declined 2.8% due to the weaken domestic sales in petroleum and petroleum products as well as telecommunications and computers sectors (7.6% and 13.4% in domestic sales respectively).
  • Singapore’s Industrial Sector grew 9.8% in Q1 faster than the 7% expansion in the previous quarter.
  • Singapore’s Government focused on its growth forecasts for both total trade and non-oil domestic exports at 1.0-3.0% in 2014.
STRAIT TIMES WEEKLY WRAP
OPEN 3262
HIGH 3279.53
LOW 3252.48
CLOSE 3278.02
CHANGE (In Points) -15.43
% CHANGE -0.47%

Market Forecast for week ahead: Technically STI looks like it would taste for the new resistance and can approach for the level of 3310 global economic factor & market sentiment will cause the major change in the price value of STI.
Technical Indicators: Signal line @14.79 of MACD is above the difference line @33.75 where RSI is at 62.70 CCI is performing at 109.60

Weekly Technical view on KLCI

Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
1850 1840 1820 1880 1890 1910

Weekly wrap of KLCI: KLCI formed a Long Red candle for the week currently KLCI is standing at the major support of 1860 where it opened at 1884.88 and made a high of 1889.47, made a low of 1866.34.
A Long Red candle was formed for the week with a little upper and lower shadow with a long real body where the RSI is above the centre line @61.63 & CCI is 120.12.
Market Forecast for week ahead:

  • Technical Indicator MACD difference line is above the Signal line so buying is expected in KLCI
  • A bit correction took place in this week and now we expect that some upside will take place.
KLCI WEEKLY WRAP
OPEN 1884.88
HIGH 1889.47
LOW 1866.34
CLOSE 1869.22
CHANGE (In Points) 14.12
% CHANGE 0.74%
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