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)