Thursday, 17 April 2014

Singapore STI & Malaysia KLCI Tachnical Analysis

Market Review for STI:
Singapore shares opened higher today, STI was up by 3.00 points to 3,256.20 where ended 0.02 per cent higher today.
STI opened at 3257, took a down trend and made a low of 3246.66 later gave closing at 3253.80. a Red candle was formed for the day.
Open- 3257.52        High- 3259.07 Low -3246.66         Close -3253.80 Change(Points) -0.60
% Change -.02%        
Volume -1798M        Rise -216        Fall – 199                Unch -657
Market forecast for STI:
Today STI formed a Red Doji candle for the day with a real short body and a short upper & long lower shadow. As STI made a gap up opening with 4 points and formed a Red Doji candle. As published in the yesterday’s report STI has formed a Red candle and is in a correction mode.
Technical indicators:
RSI is above the centre line @71.77 is about to move in overbought level. Where CCI is @ 120.60
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
Important Factor for today:-
  • Singapore Non Oil Domestic export fell 6.6 on where there was a jump of 8.9% in Feb. Reason for the downfall was decline in electronics and non-electronics shipments, electronic export droped 3.7% Feb where 16.1% in Mar.
  • CapitaLand Limited has signed an agreement to acquire an additional 80% interest in CapitaLand (Beijing) Kai Heng Holdings Pte. Ltd. from CapitaLand China
  • Development Fund Pvt. Ltd.. The cash consideration for the Acquisition is RMB220.2 million, approximately S$45.1 million.
Market Review for KLCI:
Malaysia stock took upside at opening where KLCI up by 3 points to 1847.4, ended higher by 5.17 points and closed at 1,850.54.
 Open - 847.40         High -1852.13 Low -1847.40         Close -1850.54 Change(Points) -5.17
% Change – 0.28%  
Volume -2522.4M     Rise -406  
Fall -409                 Unch -1330
Market forecast for KLCI:
KLCI formed a Green candle for the day with a long real body and a short upper shadow as yesterday a Red candle was formed and was expected that the KLCI would break the major support of 1850 but today it took the up move and was able to sustain itself above the crucial support. Hence a consolidation is expected for further trading sessions.
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
Technical indicators:
RSI is above the centre line @54.91 else CCI is @22.68


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