weekly technical outllok report on sti: 07th-11th oct

G l o b a l R e s e a r c h L i m i t e d

SINGAPORE

E X C H A N G E

Technical Report on STI Technical Report on STI Technical Report on STI W E E K LY

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07th sep to 11th oct 2013



Straits TimeStraits Times Technical Report on STI Technical Report on STI Technical Report on STI W E E K LY

Figure: 1, Period: Weekly

Straits Times Weekly Wrap

Resistance 3Resistance 3

Support 2Support 2

Support 3Support 3



3115

3105

3075

3175

3205

3235

Support 1Support 1 3195.84

3201.84

3131.31

3138.08

OpenOpen

High High

LowLow

CloseClose

72.10Change (In Points)Change (In Points)

-2.25%% Change% Change



Technical Report on STI Technical Report on STI Technical Report on STI W E E K LY

ŸSTI continuing the downward moment and closed below 3200 mark.it was 2nd continuous fall in Index.

ŸWeek starts gap down opening below 3200 mark @ 3195.84, then it just add few points and made week high of @ 3201.84 after making high it never touched 3200 mark and traded lower side, finally took support @3131.31, closed @ 3138.08 with loss of 72.10 points down by 2.25% wow basis.

WEEKLY WRAP OF STI

ŸSTI having nearest support @ 3115 below this 3105-3075 will be the support area for market.

STI SUPPORT

Ÿ STI having Resistance @ 3175 and above this level it may take resistance from 3205-3235 levels.

STI RESISTANCE

Ÿ Technical indicators are giving negative impression.

TECHNICAL INDICATORS

ŸHeavy selling in penny stocks dragged Index below 3200 mark and continuously trading below this level.ŸSTI crossed its 38.2% retracement level and looking bearish from this level.ŸSTI formed a candlestick pattern called “Bearish 3 inside down”,this candlestick pattern is a bearish reversal pattern that suggests that the previous trend is ending. Following an uptrend, a long blue day occurs. The 2nd day is a red day where the body is engulfed by the body of the first. The 3rd day is a red candle with a lower close than the previous day.ŸDuring an uptrend a large upward price movement occurs, illustrated by a long blue candlestick. The price is then driven down, as shown by a red candlestick, reversing some of the upward movement from the previous day. The reversal pattern is confirmed with the third days red candle completes the bearish pattern.

MARKET FORECAST FOR WEEK AHEAD

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Disclaimer

ŸAccording to the MAS, CPI-All Items inflation edged up to 2.0% in August from 1.9% in July, on account of stronger increases in the costs of accommodation, services and food which was partly offset by the smaller gain in private road transport cost.ŸSINGAPORE'S manufacturing sector expanded 3.5 % in August compared to a year ago, bolstered by a 5.3 % increase in electronics output. That was thanks to a 12.7 % expansion in the semiconductors segment, which alone accounted for 20.2 % of overall industrial production.

MACRO ECONOMIC FACTORS:

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weekly technical outllok report on sti: 07th-11th oct

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