On 27/Jan, Singapore shares ended higher though investors remains caution over Greece’s debt woes.

STI ended higher at 2916.26 (0.8%) with HIGH VOL of 1.56 billion shares traded compared with 1.35 billion shares Thursday. In the broader market, gainers outnumbered losers 286 to 110. There has been strong buying pressure starting 4 pm as STI broke the psychologically important level at 2906.

Headline in STI

Before market close

United Fiber System Ltd. (P30.SG) has entered a S$1.5 billion reverse takeover agreement which would see the company refocusing on coal mining.

After market close

ST Engineering’s aerospace arm, ST Aerospace, secured S$350 million worth of contracts for its aircraft maintenance and modification, component and engine total support businesses in the fourth quarter of 2011.

Technical Analysis on STI

Immediate Resistance of STI: 2936

Immediate Support of STI: 2906

MY sentiment on STI: See market outlook tomorrow.

On Thursday, Kepcorp trend upwards and closed at $10.76 with HIGH volume of 9.66 million shares traded.

Three white candles occurred in the last three days.  Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Both RSI & MACD are bullish though RSI in overbought region.

Important Resistance of Kepcorp: $11.09

Immediate Support of Kepcorp: $10.30

Currently prices are well above 20/50/100/200 days MA.

On 17/Jan, prices have broken the critical resistance at $10.30 with high volume to affirms on the bullishness of investors on the earning report.

The candle stick with long upper/lower shadow occurred today with high trading volume affirms on the heavy profit taking from the investors.

Since the results have been released today, do watch for any huge movement tomorrow morning. If there are no further buying pressure, taking profit would be encourage especially for short term traders.

On 26/Jan, Singapore shares ended higher as as investors cheered on news that the U.S. Federal Reserve would keep interest rates low until late 2014.

STI ended higher at 2894.43 (0.1%) with HIGH VOL of 1.35 billion shares traded compared with 1.30 billion shares Wednesday. In the broader market, gainers outnumbered losers 210 to 170. Today investors began to take profit on the overbought market though they remains bullish on the market.

Headline in STI

After market close

Keppel Corp. Ltd. (BN4.SG) 4Q net profit rose 11% to S$389 million compared with S$352 million a year earlier due to contribution from its property business, even as its main rig building business reported lower profit.

First Reit 4Q distribution per unit rose 121.8% to 1.93 cents compared with 0.87 cents a year earlier boosted by the total gain on divestment of the Adam Road property of about S$8.7 million.

Mapletree Industrial Trust (ME8U.SG) 3Q distribution per unit rose 5.4% to 2.16 Singapore cents compared with 2.05 Singapore cents last year due to higher property income.

Technical Analysis on STI

Immediate Resistance of STI: 2906

Immediate Support of STI: 2856

MY sentiment on STI: STI re-test the critical resistance at 2906 but failed to break out. We would like to warn investors that 2906 resistance is expected to be very strong and do stay alert if still vested in the market.

On Wednesday, Starhub re-test the resistance at $2.73 and closed at $2.73 with HIGH volume of 8.28 million shares traded.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are bearish as RSI in oversold region.

Important Resistance of Starhub: $2.75

Immediate Support of Starhub: $2.73

Currently prices are well below 20/50/100/200 days MA.

For the past 4 trading sessions, starhub have been under heavy selling pressure despite STI have rally recently.

The selling pressure is very heavy and it has never been happen since Oct 2009 when Starhub lost the English soccer rights to the Singtel.

This is a very bearish signal though there are no news open to the retail investors.

The support at $2.73 is strong and could be the last gate before prices could fall further.

We would like to warn investors who are vested to be careful of further correction.

On Wednesday, SGX re-test the resistance at $6.50 and closed at $6.50 with HIGH volume of 1.94 million shares traded.

A doji star occurred (where a doji gaps above or below the previous candle).  This often signals a reversal with confirmation occurring on the next bar.

Both RSI & MACD are bullish as RSI trend upwards.

Important Resistance of SGX: $6.50

Immediate Support of SGX: $6.34

Currently prices are supported by 100 days MA at $6.34.

On 20/Jan, prices broke the critical resistance of $6.50 with high volume to affirms on the bullishness of the investors.

However prices tried to break though the resistance at $6.50 with high volume today but failed and closed right at the resistance.

With RSI near overbought region, we would not suggest to long this stock now and instead prepare to take profit.

On 25/Jan, Singapore shares ended higher as China could introduce more stimulatory policies ahead.

STI ended higher at 2891.64 (1.5%) with HIGH VOL of 1.30 billion shares traded compared with 1.69 billion shares Friday. In the broader market, gainers outnumbered losers 265 to 126. Today STI rally under moderate buying pressure as some investors prefer to sideline on overbought market.

Headline in STI

After market close

No market news.

Technical Analysis on STI

Immediate Resistance of STI: 2906

Immediate Support of STI: 2856

MY sentiment on STI: STI closed near the critical resistance at 2906 (200 days MA) today and RSI already in overbought region. The possibility for pullback is very high, we would suggest to take profit off the market if vested especially for short term investors.