Singapore Stock Market: STI Technical Analysis 11 March

Posted: March 11, 2015 in Stock Tips
Tags: , , , ,

Market Review for STI: The Straits Times Index (STI) stumbled right off the blocks to slip 15.61 points or 0.46 per cent at 3,382.65 Singapore stocks continue their downward slide following a slump in US equities, after the dollar gained amid speculation the Federal Reserve is moving closer to raising interest rates.sti chart
STI Day Performance
Open: 3380.67
High: 3391.82
Low: 3369.42
Close: 3379.57
Change(Points): -18.69
% Change: -0.55%
Volume: 1255.3M
Rise: 106
Fall: 278
Unch: 401
Market forecast for STI: STI has covered its previous gap so we may expect bullish rally in next trading session.
Straits Time Levels
Support 1: 3360
Support 2: 3340
Support 3: 3320
Resistance 1: 3440
Resistance 2: 3456
Resistance 3: 3480
Technical Indicators: RSI is at 43 and CCI is at -221.
Top Gainers: citydev.sg, sia.sg, capitaland.sg, starhub.sg, genting sing.sg
Top Losers: jardine c&c.sg, jsh usd.sg, jmh usd.sg, uob.sg, dbs.sg
Important Factor for today:

  • Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier US interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
  • Food Company Del Monte Pacific Limited (DMPL) was hit by a US$2.2 million net loss in its financial third quarter ended January 31, 2015, due mainly to acquisition expenses.
  • Frasers Hospitality, the hospitality arm of Frasers Centre point Group, has opened its third property, Fraser Residence Kuala Lumpur.
  • Gold hovered near its lowest in over three months hurt by consecutive losses in the last seven sessions as a robust dollar and expectations of higher US interest rates curbed appetite for the metal.
  • Sembcorp Industries said that it is not in talks to acquire a 1,440 megawatt power plant in Odisha, India, from the GMR group. 
  • Noble Group declined to its lowest level in 17 months, wiping out gains since the commodities trader rejected criticism of its.
  • A RETURN to risk-on mode or interest rate-related volatility may result in capital flight from the Singapore real estate investment trust (S-Reit) sector. If this happens, it would be a better opportunity to buy Reits, compared to the current situation where valuations are expensive.
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