STI Technical Analysis - 30, Nov, 2015

STI Market Review

SINGAPORE'S benchmark Straits Times Index (STI) opened 6.89 points or 0.24 per cent at 2871.05 ahead of a week of news flows in the month, and ended higher to 8.8 points or 0.31 percent at 2867.9.STI came off from its intra-day peak of 2877.53 and low of 2856.61. 

Market Forecast

STI is expected to consolidate with negative sentiment in its next trading session as it has broken its support level at 2877. It has its next support at 2852 and resistance at 2944. Investors are cautious over increasing worries for demand of steelmaking as the contracts on the Singapore Exchange tumbled more than 3 per cent and the rate hike by Fed in mid december is also a major concern for investors and over decision to be made by ECB on their monetary policy.

 

STI Counter Specific News

• OKP Holdings, the infrastructure and civil engineering company, have won a $94.6 million contract by the Land Transport Authority.Wholly-owned subsidiary, Or Kim Peow Contractors (Private) Limited will construct a viaduct from the Tampines Expressway to the Pan Island Expressway (Westbound) and Upper Changi Road East.
• Advance Technology Holding, is seeking a voluntary delisting of Sinotel Technologies, after recently acquiring a 80.5% stake in the company.Advance is making a cash offer of 12.8 cents for all the shares it does not own which is 50.6% higher than the last traded price of 8.5 cents.
• Alliance Mineral Assets company has signed a distribution contract with Mitsubishi Corp. to supply Tantalite concentrate.The material is widely used in the production of capacitors in the electronics industry.The mining company said that although the latest supply contract is the first initial sample, it expects further orders.The stock is up 3.2% at $0.128, outperforming the Straits Times Index's 0.4% rise.

STI Technical Analysis - 26 Nov, 2015

STI Market Review

• Singapore shares opened marginally lower on Wednesday as the Straits Times Index (STI) dipped 0.48 point, or 0.02 per cent, to 2,923.01. and ended 31.91 points or 1.09% lower to 2851.25. 

• STI came off from its intra-day peak of 2928.42 and low of 2891.58. Top LosersScrip NameCMP%changeSIA ENGINEERING3.58-2.98 GENTING SING0.775-2.52KEPPEL CORP6.7-2.05GLOBAL LOGISTIC2.09-1.88HPH TRUST USD0.53-1.85 

• Share prices in the local bourse finished on a low note with the key Straits Times Index falling 32 points or 1.09 per cent to 2,891.58.Jitters over geopolitical tension after Turkey shot down a Russian fighter jet kept investors on the sidelines across the regional markets.

Market Forecast

STI is expected to consolidate within the range of 2880 - 2840. STI has the resistance at 2840 and has its support at 2880.If it breaks this level it is
expected to go down till 2850. Market sentiment are cautious over the Fed decision in next month over the hike of U.S. Interest rate and due to geopoilitical tension between Turkey and Russia.

Market Highlights

• Singapore share prices opened a marginal 0.3% higher, with the STI up 8.65 points to 2,900.23, following the Wall Street gains.

• KLW has withdrawn its action filed against Michael Chan Ewe Teik for the repayment of S$7 million.

• PSL Holdings has acquired an approximately 49% stake in Indonesia-based marine logistics player PT Momentum Indonesia Investama.

• KS Energy acquired the 20% stake in Ocean Offshore Engineering for S$2.34 million. 

• Cordlife is currently in discussions with various parties on opportunities relating to acquisitions, divestment and joint ventures.

• Ministry of Trade and Industry in Singapore has announced to extend the block exemption order for liner shipping agreements for another 5-yrs until Dec 31, 2020.

• Businesses in Singapore feels that the government initiatives have become increasingly business friendly.

• Oil prices ended higher after a US inventory report indicated increased petroleum supply, but a separate report showed fewer drilling rigs in service.

• Indonesia : new Opec member which surprisingly likes lower oil prices.

• Gold gained on a softer dollar and heightened tensions after Turkey shot down a Russian warplane, but the rally was limited due to expectations of a US rate hike next month. 

• Euro fell against most major currencies on expectations of further European Central Bank monetary stimulus.

Phillip Futures Energy Daily Outlook - Pick for the Day!!

Phillip Futures Energy Daily Outlook - Bullish momentum formed from increased geopolitical tensions; we expect economic data to further support this momentum.

US Q3 GDP turned out strong, supporting markets after the weak Preliminary Manufacturing PMI; US Durable Goods Orders will be released at 9.30pm (Singapore Time): Out of the 3 major US economic data releasing this week, we have a tie between the bulls and the bears.

US crude oil and natural gas inventories scheduled for release tonight at 11.30pm and tomorrow morning at 1am respectively (Singapore Time): Both US crude oil and natural gas inventories will be released later.

Crude Oil

Prices continued its increase after geopolitical tensions heightened. If tensions continue to increase, we may see more increase. Apart from geopolitical tensions, we await the economic data aforementioned. For the US economic data, we would use the US Dollar Index as an indicator as to how oil prices are affected. 

We would think that as long as US Dollar Index does not climb above 100, the bullish momentum should continue. In terms of inventories, we believe that it should decrease for the first time in weeks, and thus should also support higher prices. 

This would mean that oil prices should have more upside today, especially if the events turn out as expected. We see a strong resistance for WTI and Brent Jan’16 at $43.49 and $46.49 and this should break in the most bullish scenario.

Natural Gas

Prices are slowly trending upwards again after the big drop from last week. If US natural gas inventories drops this week, we should be seeing prices maintain above current support of $2.228 for today. This level could be tested in anticipation of US natural gas inventory release, however, should not break especially if inventories turned out lower.

Source: Philip Futures Pte Ltd.

Stock Pick for the Day!!!

Top pick for the day - Cocoa

• Cocoa failed to make a new high but on the weekly basis, it appears to be forming an ascending triangle pattern, which is a continuation pattern.

• The recent failure is not a sign of reversal but only a minor pullback after a strong breakout above the ST resistance trend line last week.

• This breakout could signal the end of the sideways movement and the next leg up could be underway.

• A move above 3395 would confirm that the bull is coming back. The upside targets are at 3533 and 3625, which are the 138% FR and 136% FR levels.

A drop below 3187 would negate our bullish view.

Watchout on both 3395 and 3187 key levels.

To activate your free trial Service, Click Here

STI Technical Analysis - 20 Nov, 2015

STI Market Review

• SINGAPORE shares opened higher on Thursday.The benchmark Straits Times Index rose 26.91 points or 0.93 percent to 2,912.99. following Wall Street's gain on expectations the Federal Reserve would be confident enough about the US economy to raise rates in December. 

• STI closed 33.8 points or 1.17% higher and came off from its intra-day peak of 2932.78 and low of 2906.86.

Market Forecast

STI is expected to consolidate in next trading session. Investors are still waiting for positive trend , but market is not showing positive trend. If STI break 2940 then it may take positive side.

 

For more Updates, Logon to: www.capiyalvia.com.sg

STI Technical Analysis - 19 Nov, 2015

STI Market Review

The benchmark Straits Times Index STI opened 8.78 points or 0.3 per cent lower at 2,908on Wednesday. STI came off from its intra-day peak of 2909.45 and low of 2884.03. STI closed lower to 30 points or 1% at 2890.68

Market Forecast

Asian stock markets are expecting to fall amid fears that the terror attacks in Paris would hurt Europe's economic recovery. STI has taken a support of 2885 we are expecting it will go more down if it break support. Technical indicator also not supporting the STI market.

 

Market Highlights

• Singapore shares opened higher following the Wall Street's gain on expectations that the Fed would be confident enough about the US economy to raise rates in December. 

• SIIC Environment Holdings, recorded more than 100.6 million shares, making it the most active counter yesterday.

• Cosmosteel posted a 49.3% drop in net profit to S$1 million for the quarter ended Sept 30, 2015.

• Sembcorp Marine won a floating storage offloading vessel construction contract from Modec.

• Kepple T&T appointed Tan Eng Hwa as CFO & Desmond Gay Kah Meng as CEO.

• Air Liquide SA's US$10.3 billion takeover of rival Airgas Inc has given the European company a leading share of the US market in industrial gases amid forecasts of further construction and manufacturing growth.

• Oil prices higher as traders weighed a small gain in US inventories and a Federal Reserve report that supported expectations of a December interest rate hike. 

• USD low against the euro after the minutes of the Federal Reserve's October policy meeting reinforced expectations of an interest rate hike next month.

• Due to the recent global developments that aim to clamp down on Base Erosion and Profit Shifting practices of some multinationals, and also increasing emphasis on tax transparency, there is need for Singapore to re-position itself for value creation to fuel its economy's growth. 

• Fed officials continue to flag December as a likely time for interest rates to rise after 7 yrs near zero & expressing confidence they will be able to pull off a rate hike smoothly despite fears of an abrupt market reaction.

• SGX partnered EBS BrokerTec, ICAP's electronic FX and fixed income business, to launch SGX-listed FX block futures on EBS BrokerTec's FX central limit order book- EBS Market, a primary venue for e-traded currencies.

Top Hot Stock Today - Russell 2000 index

Russell 2000 index (RTY) has risen 6.39% since the 1,079 low in September and we could see more upside from here.

In RTY case, prices are remaining and holding up well above the ST resistance-turned-support trend line as well as the support band.

Besides that, with prices still trading in the ST uptrend channel (red), a bounce is likely.

Get Daily Tips and recommendations, Execute 3 Days Free Trial!!!