Property plays break support

CITY DEVELOPMENTS ($8.20) - Breaks support
- Price broke $8.38
- Sign of weakness and the break indicates a target of $7
- Support at $7

CAPITALAND ($3.39) - Breaks support
- Price broke support level of $3.50
- Support at $3

KEPPEL LAND ($2.10) - Set to fall further
- Price appear poised to break below support at current levels
- Break would indicate a move towards $1.50

ALLGREEN PROPERTIES (92.5 cents) - Moving average breached
- Prices appear poised to break below current levels at 95 cents
- A break would point to a downside of 70 cents

WING TAI HOLDINGS ($1.27) - Set for a tumble
- Like the leaders, this counter is also set to fall towards $1
- Unlikely to regain $1.30 mark in the short term

UNITED OVERSEAS LAND ($3.30) - Superior relative strength
- Appears to be the strongest stock in a weak sector
- Support at $3.25
- Prices could dip below the $3 level during the correction
- Resistance has been established at $3.50

(Source : TheEdge Singapore July 13, 2009)