7 Nov 2014

SGX- STI Technical Analysis & Weekly Report

Market Review for STI:
STI opened at 3286.57 for the week which was up from the previous week’s closing at 3274.25. The local bourse saw average daily value traded in securities fall 8 per cent in October from the previous month while on a year-on-year basis; it dipped 7 per cent. A major power failure caused a suspension of trading in stocks and derivatives on the Singapore Exchange (SGX) for several hours on Wednesday. Asian markets were mixed Thursday following a record close on Wall Street, while the dollar pushed towards 115 yen for the first time in seven years, after Republicans took control of the US Congress. STI closed at 3286.39 and high for the week was marked at 3302.34. FREE TRIAL
STRAIT TIMES WEEKLY WRAP
Open 3286.57
High 3302.34
Low 3273.68
Close 3286.39
Change (Points) +12.14
% Change +0.36%
Market forecast for STI:
The minor trend for the week was up and also the prices end higher than the previous week and we may expect that the uptrend will continue till the level of 3330. For the next week the STI is expected to move lower as bearish star formation is seen on week’s closing candlestick.
STI LEVELS
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3233 3184 3150 3329 3357 3400
Technical Indicators:
RSI is indicating bullishness and is at 58.67 and is at and CCI is at 123.46.Both the indicators are showing bullishness towards the prices. MACD is indicating at 7.71.  
Sector Allocation Chart

Sector Volume Values($) Rises Falls Unchanged
Properties 164,482,000 289,532,938 23 28 30
Multi-Industry 22,704,000 98,124,252 4 7 7
Construction 119,539,333 10,761,076 8 13 21
Commerce 159,085,000 62,969,768 21 27 51
Hotels/Restaurants 1,777,000 1,080,610 2 6
Transport/Storage/Communications 98,176,330 117,984,845 10 17 22
Finance 20,945,800 227,729,004 17 12 17
Manufacturing 334,628,050 115,780,750 48 55 153
Services 240,990,460 89,669,848 34 40 80
Agriculture 19,462,000 10,201,856 4 1 4
Mining 12,689,000 3,593,456 3 6 3
Electricity/Gas/Water 1,333,000 700,130 1 1 0
Shares in Foreign Currencies 17,787,170 47,510,039 11 25 115
Total 1,213,599,143 1,075,638,572 186 238 512

Important Factor for today:-
  • The Republic is poised to tap a myriad of opportunities arising from greater integration among capital markets in Asia, where strong economic growth and an expanding middle class are driving demand for financial services, said the Monetary Authority of Singapore's (MAS) deputy managing director Jacqueline Loh.
  • Singapore landlords are tapping the fourth-lowest local borrowing costs in Asia to fund record overseas purchases of hotels, office blocks and luxury apartments as property prices fall at home.
  • The first Asia Pacific Green Bond is listed on SGX.There were 56 new bond listings in October bringing the total number of bonds listed year to date to 446 with total proceeds of S$182 billion.
  • According to a report by SGX, this is a 17% increase relative to the number of bonds listed in September. It also represents a 21% increase compared to 369 bonds listed and 15% increase compared to S$160 billion raised in same period last year.
  • Chip Eng Seng Corporation on Monday said it has won a S$232.8 million contract through its wholly owned subsidiary. The contract was awarded by the Housing & Development Board for the construction of nine blocks of residential buildings and other community facilities. The construction period is about 42 months.

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