SGX : STI Technical Analysis Report 4 Feb

Market Review for STI: Share prices opened higher with the Straits Times Index up 16.36 points to 3,424.38.Spike in oil prices lift Singapore shares after pushing up stocks on Wall Street overnight and Oil prices fell as renewed concerns over global demand and high stock levels halted a rally that pushed up prices by about 19 per cent over the past four sessions.

STI Day Performance
Open: 3420.28
High: 3432.10
Low: 3413.03
Close: 3417.57
Change(Points): +9.550
% Change: +0.28%
Volume: 1188.8M
Rise: 197
Fall: 188
Unch: 402
Market forecast for STI: STI is its major resistance if crosses the level of 3343 we may expect bullish rally in next trading session.
STRAITS TIME  LEVELS
Support 1: 3390
Support 2: 3372
Support 3: 3360
Resistance 1: 3443
Resistance 2: 3460
Resistance 3: 3480
Technical Indicators: RSI is at 60 and CCI is at 90
Top Gainers : noble.sg, hongkongland usd.sg, sgx.sg, st engineering.sg, thaibev.sg
Top Losers : sia engineering.sg, comfortdelgro.sg, ascendas, eit.sg, sia.sg,jmh usd.sg
Important Factor for today:-

• Amendments proposed by the Monetary Authority of Singapore (MAS) to rules governing the issuance of covered bonds put Singapore one step closer to an active covered bond market which Fitch Ratings expects to open as early as mid-2015. The changes, as detailed in an MAS consultation paper, will provide greater flexibility to covered bond structures. It further clarifies regulations including how assets can be segregated, the limit on liquid assets, and the calculation of the loan-to-value (LTV) ratio for mortgage assets.
• Singapore and the Philippines are enjoying a close bilateral relationship, which will be a key driver for the region to work towards closer economic integration.
• Roland Thng is seeking to shake up Singapore’s staid corporate landscape, setting up a new hedge fund focused exclusively on influencing the way locally listed companies are run.
• Lifestyle products group OSIM International reported a flat three months of results for its fourth quarter ended Dec 31, 2014.
• SIA Engineering Co (SIAEC) reported a net profit of S$46.3 million for the third quarter ended Dec 31, 2014, down from S$60.5 million in the corresponding quarter a year earlier.