DJIA as mentioned on 31st Mar that it was looking to fill its immediate gap above and it has done it by gapping up and above it 900 over points. Apparently and inevitably after rising 2564 points from last Friday session closig, traders book their profits fading the session to close negative at 22653.87 (0.12%, -26.13 points). Technically, it has retraced to close just above its current consolidation, which may offer some support to rally. On the hourly chart, Dow closed with an bullish inverted hammer. Will there be a bullish follow through or it will move towards its channel mid-line?
SP 500 gap up above its channel top but faded through the session to close negative by 4.27 points (0.16%) at 2659.42. Technically, it has broken its channel top and to close below it. On the hourly chart, last 2 red candlesticks saw rejection from its channel top. The immediate support levels to watch : 2630 and 2500.
Nasdaq got rejected by its outer Bollinger band having mega-gap up there to be offered an irresistible profit-taking opportunity.
VIX consolidating / squeezing on support, be ready for another big move coming
2,571.890 +101.30 (4.10%)
| |||
STI builds on strong start to the week, rises 4.1% on Tuesday
07 Apr 2020 17:57
By Navin Sregantan
Singapore's Straits Times Index (STI) built on its positive start to the week, finishing the Tuesday session up 101.30 points or 4.1 per cent to 2,571.89. All 30 of the benchmark's counters notched up gains.
Market sentiment continues to improve on signs the Covid-19 spread in the West is slowing, and hopes are growing that major oil producers Saudi Arabia and Russia will agree to an output cut by week's end.
Locally at least, the improved mood is also being buttressed by broad-based measures announced by the Singapore government in its S$5.1 billion Solidarity Budget to support the economy.
Elsewhere in the Asia Pacific, equity benchmarks in China, Hong Kong, Japan, South Korea and Thailand finished higher. The standout performer for the day was Thailand's SET Index, which jumped 76.11 points or 6.7 per cent to close at 1,214.95. Bucking the trend was Australia's ASX 200 Index and Indonesia's Jakarta Composite Index, which dropped 0.7 per cent each.
While recent performance suggests investors are being cautiously optimistic, Oanda Asia-Pacific senior market analyst Jeffrey Halley pointed out that the "potential light at the end of the tunnel is a weak one though, and any number of things could come together to switch it off".
The best performer among STI constituents was City Developments, which advanced S$0.79 or 11.3 per cent to S$7.80. Before market open, the property developer increased its stake in IREIT Global to 20.87 per cent from 12.52 per cent.
Meanwhile, units in Europe-focused property trust IREIT Global jumped S$0.10 or 19.2 per cent to S$0.62.
The most heavily traded stock on the STI was Genting Singapore, which closed 3.5 Singapore cents or 5.1 per cent higher at 72.5 cents; 75.9 million shares changed hands.
In the second line, Biolidics shares closed unchanged at S$0.27. On Monday, the cancer-diagnostics company's Covid-19 test kit was approved for use in the European Union. This follows the approval granted by the authorities in Singapore and the Philippines last week.
Biolidics shares have risen 22.7 per cent since March 30, when it first unveiled that the rapid test kit could be available by month?s end.
Across the Singapore market, advancers trumped decliners 386 to 84, with 1.78 billion securities valued at S$1.98 billion traded.
Source: Business Times Breaking News
No comments:
Post a Comment