STI Technical Analysis - 28 Aug, 2015
STI Market Review
- Singapore share prices opened higher with the STI up42.18 points or 1.47 per cent to 2915.18 and ended 72.43 points or 2.52% lower to 2945.43. STI came off from its intra-day peak of 2952.87 and low of 2909.78.
- Singapore saw a techincal rebound after heavy selling pressure in last week. STI opened higher due to strong overnight performance in US equity markets and due to declartion of rate cut in China.
Market Forecast
- STI is to takeside ways trend with positive sentiments. It has broken the resistance of 2920. Its next resistance is at 2970, if breaks this level it is expected to go up to level of 3000, it has its support at 2904.
- However, market sentiment still remains bearish as they did not find China's rate cut sufficient to control the global meltdown due to slowing growth of Chinese economy.
STI Day Performance
| Open |
2915.18 |
| High |
2952.87 |
| Low |
2909.78 |
| Close |
2945.43 |
| Change (in points) |
72.43 |
| % Change |
2.52% |
| Volume |
1833.8M |
| Rise |
406 |
| Fall |
69 |
| Unch |
318 |
STI Levels
| Support 1 |
2904 |
| Support 2 |
2845 |
| Support 3 |
2801 |
| Resistance 1 |
2970 |
| Resistance 2 |
3000 |
| Resistance 3 |
3038 |
Market Highlights
- Singapore Straits Times Index opened higher by 1.31% or 38.71 points at 2,984.14, buoyed by Wall Street's biggest two-day gain since the 2008 global financial crisis.
- OLAM International will take a strategic stake in the Singapore-listed commodity trader for S$1.53 billion.
- GuocoLeisure posted a 23 per cent rise in net profit, to US$47.9 million.
- Sim Lian net profit for the full year ended June 30, 2015, increased 41 per cent from a year ago to S$240.4 million, on the back of a 67 per cent jump in revenue to S$1.2 billion.
- Noble Group rises 14% to lead gains on Singapore benchmark.
- Stats Chip asks SGX for suspension of trading in its shares.
- LionGold responded SGX on query on auditor's disclaimer of opinion.
- Oil markets have catched breath after biggest gains in past six years.
- Gold coasts along as stocks perk up.
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