STI Singapore Technical Outlook for 15-March

MARKET FORECAST

STI cant able to sustains above 3300 mark longer and again fell below this @ 3300 and today closed @ 3279.50 levels.

After making recent high @ 3317.42, STI formed candlestick Pattern shooting start and this candle denotes weakness in the market and shows that bears hold the power and that true as after that its 2nd day where STI traded at lower levels.

Again STI trading between the slopping lines, and now it is having support @ 3250-3220 levels and for higher levels it's necessary for STI to maintain itself above 3320 mark.

STI Intraday Support Levels

STI having immediate support @ 3265 level and below this level it can take support @3250-3220 will be the support zone for STI.

STI Intraday Resistance Levels

STI having immediate Resistance @3300 and above this level it may take resistance @ 3320-3335 levels.

Technical Indicators

Technical indicators MACD, RSI and CCI all are in recovery mode with today's move. As we can see in the chart, RSI trading above its centreline @ 51.77 but CCI crossed its -100 level and closed @ -5.255 which is bearish signal.

Singapore Stock Factors to Watch Today 17-Dec

SINGAPORE STOCKS TO WATCH

SINGAPORE TECHNOLOGIES ENGINEERING

ST Engineering said its aerospace arm will acquire 100 percent of Volant Aerospace LLC for $13.1 million, which will help the company to develop cabin interior engineering, manufacturing and repair capabilities.

MAPLETREE INVESTMENTS

Mapletree Investments Pte Ltd, a firm owned by state investor Temasek, has hired major investment banks to manage an initial public offering next year of a real estate investment trust (REIT) that would have only Chinese assets and raise $1 billion, IFR reported. 

Mapletree manages other listed REITs including Mapletree Logistics Trust and Mapletree Commercial Trust

Singapore StockMarket Index at 16 Months High

Singapore shares rose to the highest in about 16 months, after encouraging economic data from China and the United States, with property firms CapitaMalls Asia Ltd and Hongkong Land Holdings Ltd leading the gains.

The Straits Times Index advanced as much as 1 percent to 3,139.40 points, the highest since early August 2011. MSCI's broadest index of Asia Pacific shares outside Japan was 0.2 percent higher.

Shares of CapitaMalls Asia rose as much as 2.8 percent to S$2.01, the highest since February 2011. More than 8.6 million shares were traded, 1.2 times the average full-day volume over the past 30 days.

Nomura sees limited upside to the valuation of CapitaLand Ltd's residential development business at the current level, and advised investors to buy CapitaMalls Asia, a unit of CapitaLand which owns, develops and manages shopping malls.

"We believe it is more attractive to invest directly in CMA to maximise returns from its core earnings recovery and potential capital recycling opportunities," Nomura said.

Shares of Interra Resources Ltd gained as much as 5.2 percent on volume of 20.3 million shares, more than double the average full-day volume over the past 30 days. The share price was 5.3 times the level at the start of the year.

OCBC Investment Research said the share price surge was fuelled by Interra's exposure to Myanmar and possible significant oil and gas discoveries in the country, as well as the potential of its exploratory block in Indonesia.

OCBC said it believes the company, which recently completed a rights issue, has enough cash to fund its requirements in 2013, barring significant discoveries. It added that Interra shares could be worth S$0.441.

Singapore Stocks Trading Strategy For 10th Dec