Singapore Stock Market Today 13 April 2011

TECHNICAL VIEW ON STI
 

MARKET REVIEW
STI loosing the string and closed down, it's a second day on the line and today STI closed almost @ its 100 day MA level. STI opens and it fall continuously throughout the day from its 3160.44 levels and made a low of 3127.05, but than finally closed with recovery of 11 points @ 3138 with loss of 22.44 points down by 0.74%.

MARKET FORECAST
STI closed almost at its 100 day MA level of 3137.29 @ 3138 level this was a previously act as a good Resistance level. STI not maintain its higher levels of 3185 levels and again come back from their and took support @ 3127 levels, market taking a some correction or it may be consolidate at these levels.

STI trading above the its 76.4% retracement levels and for this reason it will be consolidating between the range of 3200-2900 and whenever it will not able to sustains above 3220 levels , hard for it to maintaining the higher levels.

SUPPORT
STI having strong support @ 3120 and below this level it can take support @ 3100-3080 levels.

RESISTANCE
STI having Resistance @ 3170 and above this level 3200-3225 will be the small and also major resistance zone for STI.

TECHNICAL INDICATORS
Indicators looking some overbought.

STI Today's Review and Market Forecast for tomorrow 29 March

MARKET REVIEW
After a winning strike of last week on the very first day on new week STI closed with some lose. STI opens @ 3070.84 at days high but not sustains that higher level and made a low of 3044.33 and finally closed with some points of recovery @ 3057.38 losses of 13.46 points down by 0.44%.

MARKET FORECAST
As we told in our previous reports that STI having a trading range of 2950-3120 and it is moving between this range only and before last week STI breached this 2950 level and made a low of 2919 took support @ its 61.8% retreatment level.

Today STI faced Resistance @ 3070 level which is its previous multiple support as well as Resistance level, so now this level again act as a Resistance for the Market and also it took support @ up slopping trend line today. So the coming days , STI have to maintain above its 3070 levels for upwards rally and also not to breached its up slopping trend line level if breached then it can go further down side.

SUPPORT
STI having strong support @ 3020 and below this level it can take support @ 2990-2960 levels.

RESISTANCE
STI having Resistance @ 3070 and above this level 3100-3130 will be the major resistance zone for STI.

TECHNICAL INDICATORS
MACD turn to be bullish phrase as it gave bullish crossover and also RSI reverse with today move, from up to down side but still maintain
above its centreline of 50 @ 52.24.

Singapore Stock Recommendation- Genting Singapore PLC

Genting Singapore PLC took support @ its 1.86 levels and now crossed its 50 day MA level of 2.021 and closed on weekly high of 2.04.
Genting Singapore PLC making a Falling wedge pattern, as it was trading in a bearish consolidation trend and now it can move to bullish zone as it took support @ lower support line and reverse, so if it will give breakout above 2.04 it can turn
to be bullish. 

Genting Singapore PLC having a Resistance level @ 2.04 and it can move towards and crossed its upper trend line which is connecting with lower high and go for 2.16-2.25 and above.
 

Genting Singapore Ltd having Support @ 2.00 levels and below this level 1.96-1.86 will be the major support zone for
Genting.

Technical Indicator MACD gave its bullish Crossover and seems more bullish and RSI trading above centreline of 50 @59.18.

Trading Advice- 

Buy For 5-6 Days at 2.04 Targets- 2.08-2.12-2.160 Stop loss- 2.00

Cosco Corporation (Singapore) Ltd Technical Outlook- Singapore Stocks

Cosco Corp looking bullish on daily graph, Cosco trading above its 200 day MA level today @ 1.872 and having next resistance @ 1.913 level.
 

Cosco Corp making a Falling wedge pattern, as it was trading in a bearish trend and now it can move to bullish zone as it took support @ lower support line and reverse, so if it will give breakout above 1.913 it can turn to be bullish.
 

Cosco Corp having a Resistance level @ 1.913 and it can move towards 1.945-1.98-2.04 above the breakout. 

Cosco Corp having Support @ 1.87 levels as it was a Resistance previously and now it will be a Support zone below this 1.84-1.79 will be the support for Cosco.

Positional Trading Advice-  

 Go for Long in Cosco Corp at 1.91 for the Targets 1.95-2.00-2.05
 and Stoploss 1.87 Holding period 4-5 days

Fraser and Neave Ltd Technical View and Trading Recommendation

As per daily graph of Fraser and Neave Ltd, it took support @ its major support level of 5.257 and reverse, and today it was made a high of 5.57. FNA having its major resistance area @ 5.45 levels if it will continue to maintain this level than it can move
more upside to 5.55-5.65-5.75 and above. FNA having a support zone @ 5.25 level but it can also took intermediate Support @ 5.36 level if it will breached this level than it can move more down side to 5.25-5.17.
 

Trading advice- One can take long position in the FNA above 5.47 with SL of 5.40 for target 5.55-5.65-5.75 4-5 days holding.

Straits Times Index- Singapore Market Weekly outlook 21-26 March

Weekly Wrap of STI
Strait Times breached its major support level of 3040 and sustains below this whole the week and took support @ 2919.98 below its 61.8% retracement level.
STI opens just below its 50 week MA level @ 3043.49 and trades below this level whole the week, took support below its 61.8% retracement level of 2919.98, the retracement level was @ 2925.81, and closed just above this level of 2935.78 with loss of 107.71 points down by 3.54%.

Market Forecast for Week Ahead

 
STI made a high of 3043. 49 in opening session as STI having support level @ 3040 which is up slopping trend line level, and STI breached this level and sustain also below this and took support below its 61.8% retracement level on weekly graph and for coming days this will be the major support level for market. STI was trade in the 3150-2950 range from past some days and now STI breached this range and closed below this level so now we can say that it is in downtrend and now it can go more 100-150 points. For the coming days still we feel some consolidation to downtrend as market is near to its 61.8% retracement level and expected that
it will take support @ this level and if it will not sustains this level than it will go more down side.

STI Resistance
STI having major resistance @ 2950 level above this level 3000-3050 will be the major Resistance for market.

STI Support
STI having strong support @ its 2910 level and below this level 2870-2840 will act as a support zone for market.

Technical Indicators
Technical Indicators are in bearish zone RSI trading @ 36.42 and MACD is also in bearish zone.

Singapore Stock Market Review and STI Forecast

MARKET REVIEW
STI plunge more than 100 points today's trade and breached all the decisive support levels and closed below major support level of 2965 @ 2946.08.
STI opens with 21 points of gap and made a low of 2932.35 and consolidate day long between 2960-2940 levels and finally closed @ 2946.08 with loss of 84.78 points down by 2.80%

MARKET FORECAST
STI breached its up slopping trend line today i.e. 3025 level on daily graph and also break all the immediate support level too and closed below major Support level of 2965 @ 2946.08.

STI took support just above its 61.8% and 76.4% Retracement level Daily & Weekly charts respectively, as we told previously that if STI breached its 61.8% retracement level on weekly chart than it can move 100-150 points down side.

SUPPORT
STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.

RESISTANCE
STI having Resistance @ 2975 and above this level 3005-3035 will be the major resistance zone for STI.