Saturday, April 25, 2015

Weekly wrap & market farcast of STI April 5th week


Weekly wrap of STI:

In this week STI did not performed well STI retreated following a selloff in US markets last Friday. How they fare for the rest of the session could hinge on the reaction of stocks in China to a decision the Chinese central bank to ease bank lending restrictions then shares settled mostly higher as investor sentiment got a boost from strong rebounds in Hong Kong and China following a pullback in the previous session. Shares pulled back as traders and investors lightened positions after recent gains to await fresh leads, including more earnings announcements. Gains in most Asian markets kept Singapore shares higher, with investor sentiment underpinned by hopes that China will introduce more stimulus measures after a closely-watched private survey pointed to continued weakness in the country's manufacturing sector and shares were mostly higher at midday but struggled to hold on to gains as investors mulled over losses in Hong Kong and China stocks, while waiting for more companies to announce their March-quarter results.

Market Forecast for week ahead:
The trend of market is expected to be bullish for next week .Currently it has been seen that there is unusual volatility in markets due to oil prices crisis. And from technical point of view STI making rounding bottom in daily chart so we are expecting it will move up.

Technical Indicators:

RSI is at 65 and CCI is at 142

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