Singapore Stocks: STI Technical Analysis & Forecast for 10th Oct

Market Review for STI:
STI gave a gap up opening by18.26 points to 3,244.97, opened higher on the back of Wall Street stock. It made a high of 3264.06 and the low for the day was marked at 3239.97 .STI formed a bullish candle for the day and closed at 3259.25.

STI Day Performance
Open	3242.47
High	3264.06
Low	3239.97
Close	3259.25
Change(Points)	+32.54
% Change	+1.01%
Volume	1172.5M
Rise	205
Fall	177
Unch	752

Market forecast for STI:
If it is the correction then the confirmation of bullishness will be from the opening price of the next trading day.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3225	3215	3200	3275	3285	3300

Technical Indicators:
RSI is below center line at 42.62 and CCI is at -82.27.

Top Gainers			Top Losers
Scrip Name	CMP	%change	S crip Name	CMP	%change
CAPITALAND.SG	3.12	2.97	SPH.SG	4.18	-1.18
GENTING SING.SG	1.115	2.29	SIA ENGINEERING.SG	4.53	-0.66
HONGKONGLAND USD.SG	6.89	1.92	KEPPEL CORP.SG	10.24	-0.49
JMH USD.SG	59.01	1.9	SIA.SG	9.71	0.31
JSH USD.SG	34.75	1.85	SEMBCORP IND.SG	5.07	0.4

Important Factor for today:-

• Shares of raffles education corp. soared in early trade today after the company said it would spin off its wholly owned oriental University City holdings on Hong Kong’s growth enterprise market.
• Investors in Singapore are flocking to take cover under bonds umbrella amid gathering clouds over the global economy. Even the weakening sing $ has failed to dent their enthusiasm for the fixed income securities, in particular government bonds.
• The stock of lifestyle products group Osim international, a long-time market darling, traded sharply lower for a second day in a row on heavy volume.
• Housing and development board (hdb) resale prices could have fallen in an eighth consecutive month, going by flash estimates from the Singapore real estate exchange.