SGX Outlook: STI Technical Analysis 15 July

Posted: July 15, 2014 in Stock Tips

Market Review for STI:
Share prices opened higher at 3296.540 with STI 5.56 points up. Singapore’s economy contracted in April to June for the first time in seven quarters, hit by a sharp drop in manufacturing activity and the drop to alter the outlook for the city-state’s tight monetary policy. Gross domestic product shrunk by 0.8% in the 2nd quarter on a seasonally adjusted and annualised basis. The impact is eventually seen in the market. It gave a closing at 3291.420 below the opening.


STI Day Performance
Open 3296.540
High 3297.070
Low 3286.280
Close 3291.420
Change(Points) +0.440
% Change +0.01%
Volume 1394.6M
Rise 184
Fall 204
Unch 395

Market forecast for STI:
Since, very small movement is seen in the market from last week. We may expect the same for further more time, moving in a range of 3265-3295. The level of 3300 may act a level from which the index may boost.

Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3280 3265 3240 3300 3325 33540

Technical indicators:
RSI is above the center line @56.503. CCI is @130.849. Indicators are also not that supportive for the index.

Top Gainers Top Losers
Scrip Name CMP %change Scrip Name CMP %change
Golden Agri-Res 0.545 0.93 HongkongLand USD 6.68 -2.2
Jardine C&C 45.9 0.9 JSH 500 USD 35.64 -1.82
Ascendas Reit 2.32 0.87 JMH 400 USD 59.22 -1.07
OCBC Bank 9.56 0.84 SPH 4.13 -0.72
SingTel 3.91 0.77 StarHub 4.14 -0.48

Important Factor for today:-

  • Non-residential deals will continue to drive investment activity in Singapore for the rest of this year.

  • Viking offshore and Marine have won a 50 month contract worth US$32 million. Shares in the firm raised 2.4% (0.3 Singapore cents to 12.8 cents).

  • CCM Group will hold an extraordinary general meeting (EGM) on Aug 5 to get shareholder’s nod for a rights issue, change its name and diversify into information technology.

  • OLAM International, Qian Hu, ST Engineering, Otto Marine and Ezion all had recent developments that could affect trading activity. Olam International banged its US$2 billion euro medium term note programme to US$5 billion. Qian Hu’s net profit for its 2nd quarter ended June 30 was $22,000, down 73.5% from a year ago.

  • An arm of ST Engineering, ST Aerospace has won new contracts of five year agreement with a regional US airline for heavy maintenance of 42 Embraer E-170 and E-175 aircraft at the aerospace sector’s San Antonio facility worth S$520 million in the 2nd quarter of 2014.


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