Singapore STI Technical Review 21 July

Posted: July 21, 2014 in Stock Tips

Market Review for STI:
Singapore shares opened higher, with Straits Times Index at 3,313.83 in early trade, up 0.11 per cent. The equity markets had a good start today after Malaysian Airlines flight MH17 crashed near the Ukraine-Russia border. STI managed to end the day in positive territory at 3314.27 points. Closes higher than the previous day close. High and low was observed at 3320.25 & 3309.17.

STI

STI Day Performance
Open 3313.83
High 3320.35
Low 3309.17
Close 3314.27
Change(Points) +3.74
% Change +0.11%
Volume 1528.8M
Rise 203
Fall 181
Unch 401

Market forecast for STI:
STI formed a green doji indecisive candlestick which is indicating indecision for buying and selling. The next candle formation can confirm whether the index will move up or consolidate. We may expect a bullish trend as per indicators.

STI LEVELS
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3300 3285 3270 3325 3340 3350

Technical indicators:
RSI is at 63.932, CCI is at 159.01 .MACD is at 4.15.

Top Gainers Top Losers
Scrip Name CMP % change Scrip Name CMP % change
Olam Intl 2.48 1.64 Jardine C&C 46.09 -1.14
CapitaLand 3.29 0.92 ST Engineering 3.74 -0.8
ComfortDelGro 2.58 0.78 SIA Engineering 5.1 -0.39
JSH 500 USD 36.2 0.69 Genting Sing 1.32 -0.38
SIA 10.55 0.57 Global Logistic 2.75 -0.36

Important Factor for today:-

  • The tourism receipt tally in Singapore rose to $6 billion in the first quarter of 2014, a five per cent increase on the same period last year.
  • Golden Agri-Resources, the Singapore-listed holding company of crude palm oil producer PT Sinar Mas Agro Resources and Technology (SMART), has invited Spain-based Compania Espanola de Petroleos (Cepsa) to produce and sell fatty alcohol.
  • Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about $600 million from Saipem SA, France for the conversion of Two FPSOs for the Kaombo Project in Offshore Angola.
  • UOB’s economic-treasury research division says in a note today that these geo-political tensions could continue to negatively impact markets.
  • CapitaCommercial Trust (CCT) reported 2Q14 distributable income of S$64.1m – 7.6% higher YoY. This cumulates to an YTD distributable income of S$124.0m, which is within expectations and makes up 51.0% of our FY14 forecast.
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