Singapore Stock Technical Review 16 July

Posted: July 16, 2014 in Stock Tips

Market Review for STI:
Singapore share prices opened higher with STI up 5.62 to 3297.04. STI could move in a range of 3,150 and 3,400 points. Positive movement is seen today which is a good indication that the prices can boost further. Singapore’s small and medium sized enterprises (SMEs) are slightly more positive about their growth in the H2, reported by Singapore Business Federation (SBF) and DP SME Index. Prices opened at 3297.040 and the close of the day was observed at 3304.430. The high and low was marked at 3305.190 &3295.240 respectively.

sti

STI Day Performance
Open 3297.040
High 3305.190
Low 3295.240
Close 3304.430
Change(Points) +13.010
% Change +0.40
Volume 1677.9M
Rise 207
Fall 178
Unch 398

Market forecast for STI:
Market took a positive move today and with this note is expected to break its highs in next trading session .SME sector growth is the factor for price rise; we may expect the impact to go for long. The prices also lie above the 20& 50 days EMA which is also a good indication.

STRAITS TIME LEVELS
Support 1 3290
Support 2 3280
Support 3 3270
Resistance 1 3310
Resistance 2 3322
Resistance 3 3330

Technical indicators:
RSI is above the centre line @60.783. CCI is @171.719. The MACD is indicating the level of 3.190 .20 days EMA is at 3280.328 and 50 days EMA is at 3265.577
Important Factor for today:-

  • ST Engineering said its electronics arm has won contracts worth S$580 million in the 2nd quarter. It also won S$520 million of contracts two days before.
  • The coming COE quota (certificates of entitlement) will shrink by 6% to 11,331 from next month onwards for the next three months.
  • Global Testing Corporation climbed 10.3% today.
  • SPH, First Reit, centurion and King Wan would be good yielding stocks. SPH reported a 3rd quarter operating profit of S$98.4 million, an increase of 7.5% from a year ago, 4.7% dip in operating revenue to S$309.7 million.
  • First REITs announced a distribution per unit of 2 Singapore cents for its 2nd quarter ended June 30.
  • Singapore Press Holdings (SPH) reported a 52.2% fall in net profit for the 3rd quarter from a year ago, due to the absence of a one-off fair value gain registered a year ago.
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