Corporate activity in pennies

BENG KUANG MARINE (38 cents) - Uptrend continues

- Prices break above resistance at 35 cents

- Support is at 35 cents

- Breakout indicates a target of 50 cents

TRANSVIEW (22 cents) - Technical breakout

- Prices broke out of resistance at 15 cent level

- Initial resistance is at 31 cents

TIONG WOON HOLDINGS (95 cents) - Extremely overextended

- Prices are extremely extended

- Volume has eased with latest upmove, clearly a sign that fatigue could set in sooner rather than later

GUOCOLEISURE (77.5 cents) - Privatisation again?

- Quarterly momentum is high and short term indicators are at the top end of the range

PENGUIN (18 cents) - Breaks out of range

- Break indicates a target of 25 cents

- Support is at the breakout level of 14 cents

MEMSTAR TECHNOLOGY (12 cents) - Breaks out

- Prices managed to break out of resistance at 8 cents

- Medium and long term indicators recently turned up, suggesting that the uptrend has some way to go

(Source: TheEdge Singapore, September 28 2009)