Property stocks look precarious

ALLGREEN PROPERTIES ($1.09) - Breaks support
- Break below $1.12
- The downside could be near the 90-cent mark

KEPPEL LAND ($2.66) - Breaks support
- Prices are poised to break support at $2.70
- The downside is at $2

WING TAI HOLDINGS ($1.64) - Breaks support
- Prices have broken below the 50 day moving average at $1.73
- Prices could easily fall to $1.50
- A subsequent decline to $1.30 may also materialise but at a slower pace

CITY DEVELOPMENTS ($9.90) - If this breaks
- The breakdown level is at $10
- A break indicates a target of $8.90 initially, and $8.10 eventually

UNITED OVERSEAS LAND ($3.31) -Impending dead cross
- Prices are hanging on to support by a hair's breadth and can easily breakdown
- That in turn would indicate an objective of $2.95
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SC GLOBAL ($1.53) - Betting on low-end housing
- The 50 day moving average is about to be broken
- Prices may ease to the $1.40 level

(Source: TheEdgeSingapore October 5, 2009)