singapore stock picks

Friday, April 11, 2014

Singapore & Malaysia Market Daily Update

Strait Times Index
Weekly wrap of STI:
This week was a range bound week for the STI, as it opened at 3203.05 further made a high of 3215.95, else went down till 3198.22. It formed a red candle for the week.
STI formed a Spinning Top Candle for this week on the weekly chart which is also called as the long Legged Doji where it has a small real body with a long upper and lower shadow.
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3180 3160 3135 3220 3242 3265
Macroeconomic factors:
  • Ezion Holding Limited had entered in the agreement with JK Tech Holding where JK Tech will allot 42,000,000 ordinary shares @ S$0.09 per option to Ezion Holding.
  • SGX announced that the customer will have a direct access to transparent clearing services, this will effect greater optional efficiency and cost saving through its platform.So companies and banks who want to hedge their exposure between the Thai baht and Malaysian ringgit through non-deliverable interest rate swaps (NDIRS) are now able to do so directly at the Singapore Exchange (SGX), instead of going through their banks.
  • Intellectual Property Office of Singapore launched a new S$ 100 Million intellectual Property Financing Scheme to help the local business.
  • 0.2 % up in resale price of non-landed private homes in march.
  • OCBC has price US$1 Billion fixed rate subordinated notes under US$10Billion Global Medium Term Note Programme. Notes are priced at 99.40%
Market Forecast for week ahead:
The market is moving in the uptrend and is supported by the good volume the technical indicators are also positive for the next week. STI formed a red candle for the week but still it was able to maintain itself above the trend line drawn in the chart @ 3200.
As the Red Spinning Top candle was formed for the week so it is expected that the market will take a reversal as Spinning Top is a reversal candle and we could see that the market can break the resistance in coming days.
STRAIT TIMES WEEKLY WRAP
OPEN 3203.05
HIGH 3215.95
LOW 3181.78
CLOSE 3198.22
CHANGE (In Points) 14.5
% CHANGE 0.45
Technical Indicators:
Technical Indicators are showing the uptrend where RSI is above the centre line @56.64 else CCI is @ 133.62 which means that there is still a fair move for STI to take upside.
KLCI
Weekly wrap of KLCI:
KLCI is still performing at the peak point of its life time, but for this week it formed a red candle on weekly chart. KLCI opened at 1856.52 and made a low of 1848.19 later it took the upside at 1862.90 and closed to the high at 1852.66
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
1840 1825 1805 1865 1880 1900
Spinning Top Candle was formed for this week with a short real body and a long upper & short shadow.
 Market Forecast for week ahead:
KLCI is performing above the support line and is expected to take an uptrend as the Spinning Top pattern was formed where 20 days EMA 1823.80 & 50 days EMA is 1787.33
Technical Indicators:
Technically KLCI is having a bullish trend on the chart where CCI is @123.54 & RSI is about to enter in the overbought range @60.90
KLCI WEEKLY WRAP
OPEN
1856.52
HIGH
1862.90
LOW
1848.19
CLOSE
1852.66
CHANGE (In Points)
3.950
% CHANGE
0.21

Thursday, April 10, 2014

Daily Technical Analysis Report For Singapore & Malysia

STI Day Performance
Open - 3197.97      High 3209.83       Low 3186.87          Close 3203.58
Change(Points) -6.34 %           Change -0.20                    Volume 1944.5M
Rise 206            all 219                Unch 644
Market Review for STI:
Gap down opening with 12 points made by STI in today’s session. Where STI opened at 3197.97 and took a up move, made a high of 3209.83. Later closed at 3203.58. A Green candle was formed for the day.
Market forecast for STI:
A Green Spinning Top candle was formed for the day with a short real body and the long upper and lower shadow. STI is now performing well as it is able to maintain itself above the support level of 3200 from few days but still its very near to the break down level. As 20 days EMA is @3164
STRAITS TIME LEVELS
Support 1
3193
Support 2
3180
Support 3
3165
Resistance 1
3213
Resistance 2
3225
Resistance 3
3240
Technical indicators:
RSI @63.98 is about to move in overbought level. Where CCI is @ 65.77
Important Factor for today:-
  • Ezra EOC Report that there was a sharp increase in profit of US $44 Million in Q2 for FY 2014
  • SPH REIT income distributed to unit holders was $34.9million for the Q2FY2014
  • China Merchants Property Development made RMB 3.539 billion by realized contract signing sales area of 219700 square meters.
  • Noble is about to sell 51% of agribusiness to Cofco.
Top Looser
Top Gainer
Scrip Name
CMP
%change
Scrip Name
CMP
%change
OCBC Bk
9.68
-0.31
HPH Trust US$
0.66
3.1
SGX
6.92
-0.57
CapMallsAsia
1.80
2.56
Wilmar
3.46
-0.57
CITYDEV
10.32
1.98
Capitaland
2.95
-1.01
Olam
2.24
1.36
CapitaMall
1.96
-1.01
Kep Corp
11.12
1.09
 
KLCI Day Performance
Open 1859.49           High 1860.28               Low 1855.56            Close 1859.52
Change(Points) 3.77            % Change 0.20                Volume 2079.6M
Rise 546                        Fall 307                    Unch 1280
KLCI LEVELS
Support 1
1853
Support 2
1845
Support 3
1835
Resistance 1
1866
Resistance 2
1874
Market Review for KLCI:
  KLCI performed in a very tight range today, as the overall movement took by KLCI was almost 5 points. As it opened at 1859.49 and made a low of 1855.56 further gave closing near to high at 1859.52.
Market forecast for KLCI:
Green Doji candle was formed for the day. Which also looks like a Cross. Here the open and close for the day is almost same and the upper shadow is shorter than the lower shadow of the day.
Technical indicators:
RSI is above the centre line @63.84 else CCI is @87.44
Top Gainers
Top Looser
Scrip Name
CMP
%change
Scrip Name
CMP
%change
FGV
4.66
2.64
PETDAG
30.48
-0.07
IOIPG
2.79
2.57
PETGAS
23.98
-0.08
BAT
61.42
1.76
PCHEM
6.79
-0.29
ASTRO
3.34
1.21
RHBCAP
8.41
-0.35
GENM
4.29
1.18
IOICORP
4.86
-0.41

Tuesday, April 8, 2014

STI and KLCI Technical Analysis Outlook

Market Review for STI:
Singapore share opened flat today where STI made a gap down opening at 3186.43 further it took the upside move and made a high of 3211.96 and closed at the higher side at 3204.09, STI formed the green candle for the day.
STI Day Performance
Open
3186.43
High
3211.96
Low
3186.09
Close
3204.09
Change(Points)
+10.50
% Change
0.33
Volume
1945.9M
Rise
249
Fall
146
Unch
673
Market forecast for STI:
Today STI formed a green candle for the day with a long real body and a long upper shadow. After making two red candles on the daily basis today it made a long green candle and takes an up move. Today STI formed the Bullish Belt-Hold Line pattern for the day.
Technical indicators:
RSI is above the centre line @65.13 where CCI is @ 82.76
STRAITS TIME LEVELS
Support 1
3194
Support 2
3180
Support 3
3160
Resistance 1
3214
Resistance 2
3230
Resistance 3
3250
Important Factor for today:-
  • SGX announced that the customer will have a direct access to transparent clearing services, this will effect greater optional efficiency and cost saving through its platform.So companies and banks who want to hedge their exposure between the Thai baht and Malaysian ringgit through non-deliverable interest rate swaps (NDIRS) are now able to do so directly at the Singapore Exchange (SGX), instead of going through their banks.
  • Intellectual Property Office of Singapore launched a new S$ 100 Million intellectual Property Financing Scheme to help the local business. 
Top Looser
Scrip Name
CMP
%change
JSH 500US$
35.25
-0.14
StarHub
4.18
-0.24
HKLand US$
6.52
-0.31
JMH 400US$
61.11
-0.62
HPH Trust US$
0.645
-0.77
Top Gainers
Scrip Name
CMP
%change
Noble Grp
1.28
4.92
Jardine C&C
48.55
3.08
GoldenAgr
0.59
2.61
SembMar
4.11
1.99
UOB
21.86
1.44
Market Review for KLCI:
KLCI opened flat today later was not able to take any upside and formed a Red candle for the day. Today low of 1851.37 was made where KLCI closed at 1852.31. Buyers were dominated by the sellers in today’s session.
KLCI Day Performance
Open
1861.03
High
1861.19
Low
1851.37
Close
1852.31
Change(Points)
-10.59
% Change
0.57
Volume
1894.9M
Rise
389
Fall
424
Unch
1312
Market forecast for KLCI:
A Long Red candle was formed for the day with a very little lower shadow, Red Marubozu pattern formation was there on the chart on the daily basis in which there is the long real body.
Technical indicators:
RSI is above the centre line @59.96 else CCI is @88.44 
KLCI LEVELS
Support 1
1842
Support 2
1830
Support 3
1815
Resistance 1
1862
Resistance 2
1875
Resistance 3
1890
 Top Gainer
Scrip Name
CMP
%change
TENAGA
11.8
1.03
IOICORP
4.84
0.83
RHBCAP
8.43
0.72
UMW
11.2
0.54
 Top Looser
Scrip Name
CMP
%change
BAT
59.6
-0.1
MISC
6.78
-0.29
MAXIS
6.94
-0.29
MAYBANK
9.74
-0.41
HLBANK
14.08
-0.42

Friday, March 28, 2014

GOLD | SILVER | COPPER | CRUDE Commodity Technical Analysis

GOLD
Gold retreated overnight to open at 1292.50/1293.50. It climbed to a high of 1299.50/1300.5 on concerns of tougher sanctions on Russia by the West despite a decline in initial jobless claims in the U.S. The metal then declined to a six-week low of 1292.00/1293.00 on dollar strength and speculation that U.S. interest rates will rise sooner than expected. Thereafter, it consolidated to close the day at 1293.50/1294.50.
GOld Chart Gold ended the session at 1294, closing below the 200 day MA at 1296 as it approaches the 50% Fibo retracement level (1287.45) of the 2014 rally to mid-March. Subsequent downside levels include the 100 day MA at 1272 and the 61.8% Fibo retracement level at 1262.70. Resistance is expected at 1308 the March 24th close.
The Labor Department said the number of people who filed for initial jobless benefits in the U.S. last week declined by 10,000 to a seasonally adjusted 311,000 from the previous week’s revised total of 321,000. Analysts had expected jobless claims to rise by 4,000.
The upbeat data added to hopes that the slowdown in economic activity seen at the start of the year would be temporary.
Also Thursday, the National Association of Realtors said its pending home sales index dropped by a seasonally adjusted 0.8% last month, disappointing expectations for a 0.3% gain.
SILVER
Silver moved lower overnight to openSilver Chart at 19.64/19.69. After a brief high at 19.74/19.79, it declined to a low of 19.60/19.65, prior to concluding the session at 19.70/19.75.
Silver closed at 19.73. The bearish trend in silver remains intact as the decline approaches the December 31st low at 18.8266. There are no key support levels ahead of the December 31st low.
The gold silver ratio has formed an engulfing bearish reversal; closing at 65.56, below yesterday’s open despite initially trading on an upswing. The upward sloping resistance trend line from the December and February highs has held, highlighting a challenge to further gains. Looking to the downside, the next key levels of support would be expected at 64.50 and 63.80.
COPPER
On the Comex division of the New York Mercantile Exchange, copper futures for May delivery rose to a session high of $2.986 a pound, before trimming gains to last trade at $2.978 during European morning hours, up 0.4%, or 1.2 cents.
Copper lost 1.33%, or 4.0 cents, on Wednesday to settle at $2.965 a pound.
copper crude
Futures were likely to find support at $2.939 a pound, the low from March 25 and resistance at $3.045 a pound, the high from March 25.
The U.S. is to publish final data on fourth quarter economic growth, as well as the weekly report on initial jobless claims and private sector data on pending home sales.
Upbeat U.S. durable goods orders figures on Wednesday indicated that economy is gaining momentum in the wake of a weather-induced slowdown.
Meanwhile, in China, data released earlier showed mainland China industrial profits increased 9.4% in the two months through February year-on-year, compared with 17% growth a year earlier.
The industrial metal fell to $2.877 a pound on March 19, the lowest since July 2010, amid growing concerns over the health of China’s economy.
The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.
Copper prices regained strength on Thursday, as investors looked ahead to key U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy..
CRUDE
On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in May traded at $101.35 a barrel, up 0.07%. On Thursday it reached the highest settlement price since March 7, after hitting an overnight session low of $100.04 a barrel and a high of $101.69 a barrel.
Crude Chart
Brent oil on the ICE futures exchange rose 80 cents, or 0.8%, to $107.83 a barrel on Thursday, its highest level since March 14.
Oil prices shot up after the Commerce Department reported earlier that U.S. gross domestic product was revised up to 2.6% in the final three months of 2013, up from a preliminary estimate of 2.4%. Market expectations had been for an upward revision to 2.7%.
Still, the report showed that personal spending was revised up to 3.3% from 2.6% initially, the fastest rate of growth in three years, which drew applause from investors betting that sluggish economic indicators hitting the wire earlier this year were the result of rough winter weather that disrupted commerce and not due to an economic soft patch.
Separately, the Labor Department said the number of individuals filing for initial jobless benefits in the U.S. last week declined by 10,000 to a 311,000 from the previous week’s revised total of 321,000.
Analysts were expecting jobless claims to rise by 4,000.
Also supporting both U.S. and European crude blends were concerns the U.S. and Europe may stiffen sanctions on crude-rich Russia and subsequently threaten global oil supply.
Crude oil prices gained slightly in Asia on Friday on a carryover from overnight better-than-expected U.S. economic growth and weekly jobless claims data.
Technical Levels
SUPPORT 1SUPPORT 2RESISTANCE 1RESISTANCE 2
GOLD1287127913051315
SILVER19.5219.3719.8420.01
COPPER3.01652.99653.04653.0565
CRUDE100.3099.33101.97102.67
Global Economic Data
TIME :ISTDATAPRVEXPIMPACT
6.00P.MCore PCE Price Index m/m0.1%0.1%MEDIUM
6.00P.MPersonal Spending m/m0.4%0.3%MEDIUM
7.25P.MRevised UoM Consumer Sentiment79.980.6MEDIUM
7.25P.MRevised UoM Inflation Expectations3.2%LOW
Core PCE Price Index m/m
SourceBureau of Economic Analysis (latest release)
MeasuresChange in the price of goods and services purchased by consumers, excluding food and energy;
Usual EffectActual > Forecast = Good for currency;
FrequencyReleased monthly, about 30 days after the month ends;
Next ReleaseMay 1, 2014
FF NotesDiffers from Core CPI in that it only measures goods and services targeted towards and consumed by individuals. Prices are weighted according to total expenditure per item which gives important insights into consumer spending behavior. This is rumored to be the Federal Reserve's favorite inflation measure, but CPI is released about 15 days earlier and tends to garner most of the attention;
Acro ExpandPersonal Consumption Expenditures (PCE), Consumer Price Index (CPI);
SourceBureau of Economic Analysis (latest release)
Personal Spending m/m
SourceBureau of Economic Analysis (latest release)
MeasuresAnnualized change in the inflation-adjusted value of all goods and services produced by the economy;
Usual EffectActual > Forecast = Good for currency;
FrequencyReleased quarterly, about 90 days after the quarter ends;
Next ReleaseJun 25, 2014
FF NotesWhile this is q/q data, it's reported in an annualized format (quarterly change x4). The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 3 versions of GDP released a month apart - Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact;
Why Traders
Care
It's the broadest measure of economic activity and the primary gauge of the economy's health;
Revised UoM Consumer Sentiment
SourceUniversity of Michigan (latest release)
MeasuresLevel of a composite index based on surveyed consumers;
Usual EffectActual > Forecast = Good for currency;
FrequencyReleased monthly, usually on the last Friday of the current month;
Next ReleaseApr 25, 2014
FF NotesThe 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 2 versions of this data released about 15 days apart – Preliminary and Revised. The Preliminary release is the earliest and thus tends to have more impact;
Derived ViaSurvey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions;
Also CalledReuters/University of Michigan Consumer Sentiment;
Acro ExpandUniversity of Michigan (UoM);

Thursday, March 27, 2014

GOLD | SILVER | COPPER | CRUDE Technical Analysis

GOLD
Gold edged slightly higher overnight to open at 1313.50/1314.50, which was also the intraday high. Following the open it dipped to a low of 1300.25/1301.25 as the dollar strengthened and equities gained momentum following better-than-expected U.S. economic data that showed an increase in sales of durable goods. The slide in gold prices was also attributed to easing of tensions between Russia and the West, which suppressed demand for safe haven assets. The metal closed the day at 1302.50/1303.50.
GOld Chart Gold traded lower today, closing at 1302 and coming dangerously close to the 200-day moving average at 1296. A close below that level would be our stop-loss on our long-term bullish gold view. Resistance is at 1316/17, the high of the past two sessions.
Gold fell as encouraging U.S. manufacturing data reduced bullion’s appeal to institutional investors as a hedge against economic uncertainty
U.S. Federal Janet Yellen suggested interest rates could rise in the first half of 2015, raised the opportunity cost of holding non-yielding bullion.
SPDR gold trust holding dropped by 1.80 tonnes i.e. 0.22% to 816.97 tonnes from 818.77 tonnes.
SILVER
Silver was mostly unchanged overnight, opening at 19.97/20.02. It briefly climbed to a high of 20.01/20.06 before retreating on the back of gold to a low of 19.73/19.78, prior to concluding the session below the $20 mark at 19.76/19.81.
Silver had a bearish close today, closing lower at 19.76. We are bearish silver, looking for a test of the base of the consolidation that has been in place since early December, around the 18.83 low.
Silver Chart The gold-silver ratio is trading higher today at 65.90. There is support at 65.02, the 76.4% retracement of the last downtrend in the ratio from 67.47 high to 57.09 low. Uptrend support comes in at 62.99. We are bullish the ratio, targeting a test of the double top in the 67.50 area.
Silver prices dropped after official data showed that U.S. orders for long lasting manufactured goods came in higher-than-forecast in February.
Prices has been under heavy selling pressure amid growing expectations that the Federal Reserve will raise interest rates sooner than expected.
The Commerce Department reported that U.S. durable goods orders rose 2.2% last month, snapping two months of declines and surpassing expectations for a 1% increase.
COPPER
On the Comex division of the New York Mercantile Exchange, copper futures for May delivery fell to a session low of $2.982 a pound, before trimming losses to last trade at $2.985 during European morning hours, down 0.68%, or 2.0 cents.
Copper rallied to $3.045 a pound on Tuesday, the most since March 11, before settling at $3.005 a pound, up 2.04%, or 6.0 cents.
Futures were likely to find support at $2.939 a pound, the low from March 25 and resistance at $3.045 a pound, the high from March 25.
Copper Chart The U.S. is to release data on durable goods orders later in the session.
Data on Tuesday showed that U.S. consumer confidence improved more than expected in March. However, a separate report said that new home sales fell by the most in five months in February, indicating continued weakness in the housing sector.
Copper rallied on Tuesday amid growing hopes that China will unveil fresh stimulus measures to boost slowing economic growth.
Data released on Monday showed that Chinese manufacturing activity deteriorated for a third successive month in March.
The industrial metal fell to $2.877 a pound on March 19, the lowest since July 2010, amid growing concerns over the health of China’s economy.
Copper prices fell from the previous session’s two-week high on Wednesday, as investors looked ahead to key U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy.
CRUDE
On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in May traded at $100.32 a barrel, up 0.05%, after hitting an overnight session low of $99.11 a barrel and a high of $100.13 a barrel.
Prices for the global Brent oil futures contract rose four cents to settle at $107.03 a barrel on the ICE Futures Europe exchange on Wednesday.
Crude Chart Overnight, oil prices firmed after the Commerce Department reported that U.S. durable goods orders rose 2.2% in February, wiping out two months of declines and surpassing expectations for a 1.0% increase.
Core durable goods orders, which exclude transportation items, inched up 0.2%, slightly below forecasts for a 0.3% gain.
The numbers fueled expectations for a more sustained pickup in the U.S. economy, which should hike demand for more fuel and energy.
Weekly inventory data gave oil prices a boost as well.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 6.6 million barrels in the week ended March 21, above expectations for an increase of 2.8 million barrels.
The EIA also reported a 1.3 million barrel draw at a delivery point in Cushing, Oklahoma, which was larger expected and eclipsed the otherwise bearish 6.6 million-barrel build.
Total U.S. crude oil inventories stood at 382.5 million barrels as of last week.
Crude oil prices edged slightly higher in Asia on Thursday from a morning drop that followed overnight gains on better-than-expected reports on U.S. durable goods and oil inventories.
Technical Levels
SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
GOLD 1296 1288 1314 1324
SILVER 19.67 19.59 20.08 20.16
COPPER 2.9930 2.9755 3.0380 3.0830
CRUDE 99.42 98.58 100.78 101.30
Global Economic Data
TIME :IST DATA PRV EXP IMPACT
6.00P.M Unemployment Claims 320k 326k STRONG
6.00P.M FOMC Member Pianalto Speaks MEDIUM
6.00P.M Final GDP q/q 2.4% 2.7% MEDIUM
7.30P.M Pending Home Sales m/m 0.1% 0.1% STRONG
Unemployment Claims
Source Department of Labor (latest release)
Measures The number of individuals who filed for unemployment insurance for the first time during the past week;
Usual Effect Actual < Forecast = Good for currency;
Frequency Released weekly, 5 days after the week ends;
Next Release Apr 3, 2014
FF Notes This is the nation’s earliest economic data. The market impact fluctuates from week to week – there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes;
Why Traders
Care
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy;
Also Called Jobless Claims, Initial Claims;
Final GDP q/q
Source Bureau of Economic Analysis (latest release)
Measures Annualized change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, about 90 days after the quarter ends;
Next Release Jun 25, 2014
FF Notes While this is q/q data, it’s reported in an annualized format (quarterly change x4). The ‘Previous’ listed is the ‘Actual’ from the Preliminary release and therefore the ‘History’ data will appear unconnected. There are 3 versions of GDP released a month apart – Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact;
Why Traders
Care
It’s the broadest measure of economic activity and the primary gauge of the economy’s health;
Pending Home Sales m/m
Source National Association of Realtors (latest release)
Measures Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 28 days after the month ends;
Next Release Apr 28, 2014
FF Notes This data is released about a week later than Existing Home Sales, but it’s more forward-looking as a contract is signed several weeks before the home is counted as sold;
Why Traders
Care
It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction;
Also Called Pending Resales;
Source National Association of Realtors (latest release)

 
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