SGX Singapore : Weekly Technical Analysis

Market Review for STI:
STI opened at 3286.57 for the week which was up from the previous week’s closing at 3274.25. The local bourse saw average daily value traded in securities fall 8 per cent in October from the previous month while on a year-on-year basis; it dipped 7 per cent. A major power failure caused a suspension of trading in stocks and derivatives on the Singapore Exchange (SGX) for several hours on Wednesday. Asian markets were mixed Thursday following a record close on Wall Street, while the dollar pushed towards 115 yen for the first time in seven years, after Republicans took control of the US Congress.STI closed at 3286.39 and high for the week was marked at 3302.34.

STRAIT TIMES WEEKLY WRAP
Open	3286.57
High	3302.34
Low	3273.68
Close	3286.39
Change (Points)	+12.14
% Change	+0.36%

Market forecast for STI:
The minor trend for the week was up and also the prices end higher than the previous week and we may expect that the uptrend will continue till the level of 3330. For the next week the STI is expected to move lower as bearish star formation is seen on week’s closing candlestick.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3233	3184	3150	3329	3357	3400

Technical Indicators:
RSI is indicating bullishness and is at 58.67 and is at and CCI is at 123.46.Both the indicators are showing bullishness towards the prices. MACD is indicating at 7.71.  

Sector Allocation Chart

Sector	Volume	Values($)	Rises	Falls	Unchanged
Properties	164,482,000	289,532,938	23	28	30
Multi-Industry	22,704,000	98,124,252	4	7	7
Construction	119,539,333	10,761,076	8	13	21
Commerce	159,085,000	62,969,768	21	27	51
Hotels/Restaurants	1,777,000	1,080,610	2	6
Transport/Storage/Communications	98,176,330	117,984,845	10	17	22
Finance	20,945,800	227,729,004	17	12	17
Manufacturing	334,628,050	115,780,750	48	55	153
Services	240,990,460	89,669,848	34	40	80
Agriculture	19,462,000	10,201,856	4	1	4
Mining	12,689,000	3,593,456	3	6	3
Electricity/Gas/Water	1,333,000	700,130	1	1	0
Shares in Foreign Currencies	17,787,170	47,510,039	11	25	115
Total	1,213,599,143	1,075,638,572	186	238	512

Important Factor for today:-

• The Republic is poised to tap a myriad of opportunities arising from greater integration among capital markets in Asia, where strong economic growth and an expanding middle class are driving demand for financial services, said the Monetary Authority of Singapore's (MAS) deputy managing director Jacqueline Loh.
• Singapore landlords are tapping the fourth-lowest local borrowing costs in Asia to fund record overseas purchases of hotels, office blocks and luxury apartments as property prices fall at home.
• The first Asia Pacific Green Bond is listed on SGX.There were 56 new bond listings in October bringing the total number of bonds listed year to date to 446 with total proceeds of S$182 billion.
• According to a report by SGX, this is a 17% increase relative to the number of bonds listed in September. It also represents a 21% increase compared to 369 bonds listed and 15% increase compared to S$160 billion raised in same period last year.
• Chip Eng Seng Corporation on Monday said it has won a S$232.8 million contract through its wholly owned subsidiary. The contract was awarded by the Housing & Development Board for the construction of nine blocks of residential buildings and other community facilities. The construction period is about 42 months.