SGX: STI Techinccal Analysis Report 23 Feb

Market Review for STI: Share prices opened higher with the Straits Times Index up 16.94 points to 3,452.60. Shares held on to modest gains as investors awaited more developments in Europe, where Greece has until today to provide its creditors with a list of reform measures to secure financing. Trading activity was also subdued ahead of this afternoon's Singapore Budget announcement.

STI Day Performance
Open	3456.21
High	3458.14
Low	3421.30
Close	3421.30
Change(Points)	-14.36
% Change	-0.42%
Volume	1053.2M
Rise	201
Fall	196
Unch	390

Market forecast for STI: We may expect STI will move in the range of 3390 to 3350.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3385	3365	3340	3450	3480	3505

Technical Indicators: RSI is at 55and CCI is at 87.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OLAM INTL.SG	2.03	1.5	SINGTEL.SG	4.16	-2.8
NOBLE.SG	1.085	1.4	HONGKONGLAND USD.SG	7.63	-2.3
DBS.SG	19.65	1.03	SIA.SG	12	-2.12
JARDINE C&C.SG	43.15	0.94	JMH USD.SG	65.5	-1.5
SGX.SG	8.31	0.73	THAIBEV.SG	0.7	-1.41

Important Factor for today:-

• The consumer price index in January was expected to fall 0.3 per cent from a year ago, according to the median forecast in a Reuter’s poll of economists. Core CPI was seen likely to rise 1.3 per cent year-on-year.
• Airlines (SIA) dropped a position this year and ranked 19th in Fortune magazine's annual list of the 50 most admired companies in the world.
• SINGAPORE inflation eased to -0.4 per cent in January from -0.1 per cent in December, mainly due to a sharp price declines of oil-related items as well as lower food and services inflation.
• Malaysian state fund 1MDB said on Monday that the refinancing of its debt will involve the finance ministry "as relevant and as required" after media reported that the government may inject up to RM3 billion (S$1.12 billion) into the fund.
• Oil rebounded in Asia on Monday as speculators hunted for bargains following a sharp decline last week, but analysts said prices remain weighed by an oversupply.
• Loan growth for the three Singapore banks is expected to be tepid this year, after having increased 5.8% in 2014 following four years of double-digit expansion.