Local property revives

CITY DEVELOPMENTS ($8.93) - Consolidation phase
- Support has been established at $8.30
- Resistance/breakout at $9
- A break above $9 completes the consolidation pattern and would support a move to $9.60

HOTEL PROPERTIES ($1.77) - Poised to break out of resistance
- Support has been established at $1.56
- Resistance for the current rebound appears at $1.98

WINGTAI HOLDINGS ($1.42) - Correction could end
- Support has been established at $1.15
- Immediate resistance for the rebound is at $1.55
- A successful breakout indicates a target of $1.95

ALLGGREEN PROPERTIES (99 cents) - Close to a breakout
- Resistance is at $1
- A break of $1 would indicate a target of $1.26
- Support at 92 cents

UNITED OVERSEAS LAND ($3.30) - Corrective phase
- Resistance at $3.54
- Support at $3.26

WHEELOCK PROPERTIES ($1.69) - Temporary correction
- Support at $1.57
- Resistance at $1.78
- In the absence of expanding volume, resistance at $1.78 will keep a lid on any bounce
- If volume expands, prices could break out of $1.78, setting a target of $2.13

(Source: TheEdge Singapore Jun 29,2009)

Comeback for the greenback?

The battered US dollar, which has depreciated significantly against all major currencies over the past three months, could see a rebound in 2H as risk aversion returns, say currency strategists.

Major currencies against USD since March 2

Currency	Gain(%)
South African rand	28.78
New Zealand dollar	27.97
Australian dollar	25.36
South Korean won	24.46
Brazilian real	21.4
Swedish krona	17.13
British pound	15.6
Mexican peso	14.44
Canadian dollar	13.28
Norweigian krone	12.91
Danish krone	10.9
Euro	10.81
Swiss franc	8.8
Singapore dollar	6.91
Taiwanese dollar	6.88
Japanese yen	1.63

1. Recommended short term-currency trades

ASHRAF LAIDI, CMC Markets

- Long USD against major currencies

- Long SGD against USD over a six month period

DANIEL TENENGAUZER, MERRILL LYNCH

- Long USD against EUR, KRW, INR, BRL and AUD

JEFFREY HALLEY, SAXO CAPITAL MARKETS

- Long USD against EUR and SGD

- Long SGD against AUD and NZD

PATRICK BENNETT, SOCIETE GENERALE

- Long USD against KRW, PHP, RM, EUR and SGD

- Long KRW and TWD against SGD

2. Long term bets

- Long BRL, INR, KRW, Polish zloty and ZAR against USD, EUR and JPY

(Source: TheEdge Singapore, June 22 - June 28, 2009)

15 Jun 2009

This week’s technical picks are on China Property Play.

Metro Holdings (59 cents) – a steady climb
-Resistance level of 60 cents
-Quarterly momentum is at its highest level since the downturn in 2007 and looks overbought
-Trading at a significant discount to book NAV of $1.48

Yanlord ($2.28) – Uptrend intact despite consolidation
-Resistance at $2.48
-Support at $2.16
-Break of $2.48 resistance on expanding volume points to target of $2.74

Pan Hong (40 cents) – Poised to break out of resistance
-Break above 37 cents indicates a target of 50 cents.

Guocoland ($1.72) – Temporary correction
-Support at $1.66
-Resistance at $1.88

Keppel Land ($2.40) – Temporary correction
-Support at $2.30
-Resistance at $2.70

Capitaland ($3.83) – Steady Uptrend
-Support at $3.66
-Resistance at $4.55

(Source: TheEdge Singapore)