2 Jun 2014

STI & KLCI Stock Market Technical Analysis

Market Review for STI:
STI opens 6.18 points high then the previous close @3303.23 ,high was marked @3305.35 for the day and closed @3302.24.The major trend is uptrend but today was in minor downtrend and then again prices followed the uptrend .
STI Day Performance
Open
3303.23
High
3,305.350
Low
3,293.120
Close
3,302.240
Change(Points)
+6.390
% Change
+0.19%
Volume
1395.7M
Rise
188
Fall
228
Unch
367
Market forecast for STI:
STI formed a red candle for the day with a small real body and a small upper shadow, and a comparatively long lower shadow. The volume indicates the buying pressure but still the lower closing of the candle indicates a selling pressure too .In such case the buyer and seller are equally aggressive and may take the market in either buying or selling zone . The opening candle of the next day may clear the sentiments.
Technical indicators:
RSI is above the centre line @64.55, where CCI @157.72
STI LEVELS
Support 1
3295
Support 2
3285
Support 3
3275
Resistance 1
3309
Resistance 2
3320
Resistance 3
3330
Important Factor for today:-
  • Asian markets on rise .The Euro faced a pressure because of the monetary policy while the dollar was firm this week.
  • According to Singapore Commercial Credit Bureau (SCCB) the commercial prompt payment declined sharply in Q1, it reversed the uptrend from the preceding quarter.
  • Oil prices high in Asian trade today because of strong Chinese manufacturing activities.
  • Tiger Airways Holdings marked a sharp decline in prices in more than four months .The stock dropped 8.5%, it was the biggest intraday drop since January 24 .It made a seven months high and jumped 21 %.
  • Swing Media Technology Group posted record earnings of HK$83.13 million ($13.45 million) for the fiscal year ended March 31.
Top Gainers
Top Loosers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
SPH
4.17
1.71
Olam Intl
2.3
-1.71
ThaiBev
0.64
1.59
HPH Trust USD
0.74
-1.33
Noble
1.4
1.08
Golden Agri-Res
0.57
-0.87
SGX
6.96
1.02
CapitaMall Trust
2.06
-0.48
Wilmar Intl
3.24
0.94
HongkongLand USD
6.99
-0.43
Market Review for KLCI:
KLCI opened low by 4.91 points @ 1867.80.The high was marked @1876.17 and the low for the day was marked @1861.48.The overall trend is up while from the last 10 days the trend is down . With a minor uptrend it is again expected to reverse .
KLCI Day Performance
Open
1867.8
High
1876.17
Low
1861.48
Close
1864.25
Change(Points)
-9.130
% Change
-0.49%
Volume
1395.7M
Rise
188
Fall
228
Unch
367
Market forecast for KLCI:
KLCI formed a red candle for the day with a long upper shadow and a real body which indicates that the market is down .If it breaks the level of 1862 then it may decline more .The inverted hammer formed on the previous day indicates a reversal of trend.
KLCI LEVELS
Support 1
1861
Support 2
1855
Support 3
1845
Resistance 1
1872
Resistance 2
1887
Resistance 3
1897
Technical indicators:
RSI is just below the centre line @47.12 where the CCI is performing at –38.78
Top Gainers
Top Loosers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
GENM
4.22
3.69
PETDAG
24.48
-3.01
FGV
4.34
2.36
PETGAS
23.82
-2.78
GENTING
9.9
1.75
PBBANK
21.14
-2.13
IOIPG
2.52
1.61
CIMB
7.22
-1.64
IHH
4.17
1.46
AMBANK
7.24
-1.36

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