Friday, 11 April 2014

Singapore & Malaysia Market Daily Update

Strait Times Index
Weekly wrap of STI:
This week was a range bound week for the STI, as it opened at 3203.05 further made a high of 3215.95, else went down till 3198.22. It formed a red candle for the week.
STI formed a Spinning Top Candle for this week on the weekly chart which is also called as the long Legged Doji where it has a small real body with a long upper and lower shadow.
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3180 3160 3135 3220 3242 3265
Macroeconomic factors:
  • Ezion Holding Limited had entered in the agreement with JK Tech Holding where JK Tech will allot 42,000,000 ordinary shares @ S$0.09 per option to Ezion Holding.
  • SGX announced that the customer will have a direct access to transparent clearing services, this will effect greater optional efficiency and cost saving through its platform.So companies and banks who want to hedge their exposure between the Thai baht and Malaysian ringgit through non-deliverable interest rate swaps (NDIRS) are now able to do so directly at the Singapore Exchange (SGX), instead of going through their banks.
  • Intellectual Property Office of Singapore launched a new S$ 100 Million intellectual Property Financing Scheme to help the local business.
  • 0.2 % up in resale price of non-landed private homes in march.
  • OCBC has price US$1 Billion fixed rate subordinated notes under US$10Billion Global Medium Term Note Programme. Notes are priced at 99.40%
Market Forecast for week ahead:
The market is moving in the uptrend and is supported by the good volume the technical indicators are also positive for the next week. STI formed a red candle for the week but still it was able to maintain itself above the trend line drawn in the chart @ 3200.
As the Red Spinning Top candle was formed for the week so it is expected that the market will take a reversal as Spinning Top is a reversal candle and we could see that the market can break the resistance in coming days.
OPEN 3203.05
HIGH 3215.95
LOW 3181.78
CLOSE 3198.22
CHANGE (In Points) 14.5
% CHANGE 0.45
Technical Indicators:
Technical Indicators are showing the uptrend where RSI is above the centre line @56.64 else CCI is @ 133.62 which means that there is still a fair move for STI to take upside.
Weekly wrap of KLCI:
KLCI is still performing at the peak point of its life time, but for this week it formed a red candle on weekly chart. KLCI opened at 1856.52 and made a low of 1848.19 later it took the upside at 1862.90 and closed to the high at 1852.66
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
1840 1825 1805 1865 1880 1900
Spinning Top Candle was formed for this week with a short real body and a long upper & short shadow.
 Market Forecast for week ahead:
KLCI is performing above the support line and is expected to take an uptrend as the Spinning Top pattern was formed where 20 days EMA 1823.80 & 50 days EMA is 1787.33
Technical Indicators:
Technically KLCI is having a bullish trend on the chart where CCI is @123.54 & RSI is about to enter in the overbought range @60.90
CHANGE (In Points)


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