Singapore STI Technical Analysis 28 Jan

Posted: January 28, 2015 in Stock Tips

Market Review for STI: Share prices opened lower on Wednesday with the Straits Times Index down 4.87 points to 3,407.33.Singapore shares pared gains as investors booked profits while waiting for fresh leads, including a statement from the Federal Reserve early tomorrow morning after the end of its two-day policy meeting. Shares rose earlier after the Monetary Authority of Singapore sprang a surprise by saying it will slow down the appreciation of the local currency.sti
STI Day Performance
OpenL: 3405.07
High: 3427.19
Low: 3404.17
Close: 3419.15
Change(Points): +6.95
% Change: +0.20%
Volume: 1338.8M
Rise: 213
Fall: 162
Unch: 415
Market forecast for STI: STI was consolidation face today. We may expect same trend in STI.
STRAITS TIME LEVELS
Support 1: 390
Support 2: 3370
Support 3: 3350
Resistance 1: 3460
Resistance 2: 3500
Resistance 3: 3550
Technical Indicators: RSI is at 63 and CCI is at 146.
Top Gainers: NOBLE.SG, WILMAR INTL.SG, KEPPEL CORP.SG, SPH.SG, GLOBAL LOGISTIC.SG
Top Losers: JMH USD.SG, CAPITAMALL TRUST.SG, THAIBEV.SG, ASCENDAS REIT.SG, GOLDEN AGRI-RES.SG
Important Factor for today:-

  • Singapore shares pared gains as investors booked profits while waiting for fresh leads, including a statement from the Federal Reserve early tomorrow morning after the end of its two-day policy meeting.
  • Singapore’s central bank has downgraded its inflation forecasts amid lower oil prices and weaker global economic prospects.Core inflation, which excludes private road transport and accommodation costs, is now expected at 0.5% to 1.5% this year, down from a previous projection of 2% to 3%, the Monetary Authority of Singapore said in a statement today.Its 2015 forecast for headline inflation now ranges from minus 0.5% to 0.5%, compared with 0.5% to 1.5% previously.
  • Interest rates here are expected to increase in tandem with those in the United States, regardless of the Monetary Authority of Singapore’s (MAS) surprise policy announcement.
  • The Singapore dollar on Wednesday hit its weakest in nearly four and a half years, driving losses among emerging Asian currencies, as regional central banks may follow the city-state’s unexpected monetary policy easing to tackle deflation.
  • The Fed is widely expected to raise interest rates sometime in the second half of 2015 as the US economy improves and inflation remains benign. As interest rates rise, property prices in Hong Kong and Singapore may fall by as much as 5 percent this year, according to a report on prime residential real estate in the region by property consultant Knight Frank.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s