STI Technical Outlook 23 March

SCRIP NAME	ACTION	HOLDING PERIOD	RECOMMENDED PRICE	TARGETS	STOP LOSS
Cosco Corporation (Singapore) Ltd.	Long	4-5 days	1.91	1.95-2.00-2.05	1.87

• Cosco Corp looking bullish on daily graph, Cosco trading above its 200 day MA level today @ 1.872 and having next resistance @ 1.913 level.
• Cosco Corp making a Falling wedge pattern, as it was trading in a bearish trend and now it can move to bullish zone as it took support @ lower support line and reverse, so if it will give breakout above 1.913 it can turn to be bullish.
• Cosco Corp having a Resistance level @ 1.913 and it can move towards 1.945-1.98-2.04 above the breakout.
• Cosco Corp having Support @ 1.87 levels as it was a Resistance previously and now it will be a Support zone below this 1.84-1.79 will be the support for Cosco.

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STI Support and Resistance for 8 march

STRAIT TIMES LEVELS
Support 1 - 3040 
Support 2 - 3010
Support 3 -  2980
Resistance 1 - 3072
Resistance 2 - 3100
Resistance 3 - 3130

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Weekly Technical outlook for STI Stocks

Technical outlook for

Chip Eng Seng Corp Ltd

Chip Eng Seng Corp Ltd looks good on daily charts , it is trading above its up slopping trend line and also near to its 50 day MA level .

If Chip Eng Seng Corp Ltd sustains it 0.445 level than one can take long position above this level for target of 0.475-0.515-0.550 level

On the other side of coin if Chip Eng Seng Corp Ltd breached this up slopping trend line the level is 0.418 than it can go for 0.39 and 0.387 which is its 200 day MA level.  

Technical outlook for

Oversea-Chines Bank Corp Ltd.

OCB seems to be reverse from this level as it is trading above its 200 day MA level of 9.195 @9.26 and if it took support @ this level and reverse from here than above its up slopping trend line it will be in bullish zone.

Resistance for OCB comes @ 9.40 and if scrip sustains this level than one can take long position for target 9.55-9.65 and above.

Support comes for OCB @ 9.04 from this level and if breached this level than it can go for more down side up to 8.90-8.80 soon.

Technical outlook for

CITY DEVELOPMENTS

City Development looks bullish on daily graph as it is trading above its up slopping trend line and also in such a down trend market its maintain to reverse from support level of 10.48.

City Development having Resistance @ 11.40 level and recently trading @ 11.30 so if it will continue the upward rally than it can be move towards 11.60-11.80-12.00 soon so one can take long position above 11.40

CID having immediate support @ 10.90 and if breached this level than 10.70-10.90 will be the support zone for it.