Quick analysis on STI & Investment Opportunities ahead | Technical Analysis | Singapore Stock Market

STI has been consolidating since Aug 2013 within a tight band. Current support is at 3080 & its resistance at 3180.

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Momentum is also slowing with bearish divergence forming at both volume & MACD indicators.

More convincing breakout should happen beyond 3200.

Quick look at some key FTSE ST Indices:

A) FTSE ST Financials Index (FSTAS8000.SI)
– Short term movement : consolidating (Current: 793.43 Support: 770, Resistance: 800)
– Momentum : Overbought
– Average trading volume : lacklustre
– OBV : stagnant
– Key stocks in this sector (by market cap) : DBS, OCBC, UOB, GreatEast, SGX, HL Fin, ValueMax

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B) FTSE ST Consumer Goods Index (FSTAS3000.SI)
– Short term movement : consolidating (Current: 476.76 Support: 460, Resistance: 480)
– Momentum : slight overbought
– Average trading volume : lacklustre
– OBV : uptrend
– Key stocks in this sector (by market cap) : Wilmar, GoldenAgr, Noble Grp, Olam, FirstRes, Bumitama

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C) FTSE ST Oil & gas Index (FTSA0001.SI)
– Short term movement : uptrend consolidation (Current: 770.43 Support: 745, Resistance: 772)
– Momentum : overbought
– Average trading volume : constant
– OBV : uptrend
– Key stocks in this sector (by market cap) : EzionHldg, Ezra, Kris Energy, Linc Energy

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D) FTSE ST Real Estate Holding & Investments Index (FTSA8630.SI)
– Short term movement : downtrend consolidation (Current: 709.71 Support: 685, Resistance: 710)
– Momentum : nil
– Average trading volume : low
– OBV : downtrend
– Key stocks in this sector (by market cap) : HKLand, CapitaLand, CityDev, CapMallsAsia, KepLand, UOL

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Long term investors should await better entry conditions especially when STI corrects towards key resistance.

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