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)