REITs steady as penny stocks falter

ASCENDAS REI ($1.89) – Uptrend intact
- Price resistance is at the $1.95
- Break above $1.95 would indicate a target of $2.15

CAPITACOMMERCIAL TRUST ($1.13) – Challenging resistance
- Resistance appearing at $1.15 level
- A break would indicate a target of $1.28

CAPITAMALL TRUST ($1.73) – Temporary pullback
- Prices reached a high of $1.84 in September
- Break above $1.75 would indicate a target of $2.18

FRASERS CENTREPOINT TRUST ($1.23) – Sideways phase
- Resistance is at $1.29
- Prices are likely to move sideways

STARHILL GLOBAL REIT (52.5 cents ) – Downturn
- Prices have turned down breaking support at 60 cents
- Decline to support at 40 cents looks likely

SUNTEC REIT ($1.30) – Start of sideways trend
- Support likely to appear at $1.23
- Resistance is at $1.34

(Source: TheEdgeSingapore 30 November 2009)

Flight to quality

UNITED OVERSEAS BANK ($19.48) - Flag-like pattern

- Chart pattern resembles a bull flag

- Objective of a breakout is at $22

- Support is at $19 and flag fails if prices fall below $18.90

OCBC BANK ($8.48) - Forming bull flag

- An upside break above $8.50 indicate a target of $9

SEMBCORP MARINE ($3.50) - Uptrend intact

- Current pullback should find support at $3.40

- Break below $3.40 would be very negative

DBS GROUP ($14.68) - Challenging resistance

- Prices broke out of four month consolidation range

- Breakout indicates target of $15.50

SEMBCORP INDUSTRIES ($3.68) - Poised for breakout

- Break above $3.50 indicates a target of $3.90

- A break below $3.49 negates this bullish outlook

CAPITALAND ($4.09) - Upside target remains valid

- Break above $4 indicates a target of $4.70

- Support has been established at $4

- Break below this level negates this bullish outlook

(Source: TheEdge Singapore, Nov 23 2009)

The Kangaroo Route

GLOBAL INVESTMENTS (23.5 cents) - Looks like strengthening
- Technically the counter is attempting to strengthen
- Support is at 21 cents
- Break above 23.5 cents indicate a target of 36 cents

MACQUARIE INTERNATIONAL INFRASTRUCTURE FUND (40.5 cents) - Challenging resistance
- 50 day and 100 day moving average have just made a positive crossover
- Support is being established at 39 cents
- Resistance is at 42 cents
- Break above 42 cents would indicate a target of 52 cents

MACARTHURCOOK PROPERTY SECURITIES FUND (14 cents) - At support
- Prices are sitting on the 200 day moving average
- Trading range is narrow with resistance at 15.5 cents

MACARTHURCOOK INDUSTRIAL REIT (35.5 cents) - Testing support
- Prices have found support above the rising 200 day moving average at 33 cents
- Resistance at 41 cents
- ADX suggests a period of range trading between 33 and 41 cents

FRASERS COMMERCIAL TRUST (14 cents) - Breaks below moving averages
- Prices have broken below support at 15 cents
- Break indicates a target of 10 cents

CAMBRIDGE INDUSTRIAL TRUST (43.5 cents) - May break below top
- Prices appear to break below 45 cents
- Breakdown level is at 42 cents
- Prices may move sideways within 42 to 45 cents before deciding on the next major trend

S-Chips break support

SINOTEL (57.5 cents) - Breaking support
- A break below 59 cents would cause a break below the neckline of a top-like formation
- Break below 59 cents would indicate a target of 46 cents

SINOMEM TECHNOLOGY (54 cents) - Breaks top formation
- Price broke a top like formation at 59 cents
- Break indicate a target of 46 cents

MIDAS (82 cents) - Poised to break 100 day moving average
- Prices appear poised to break the 100 day moving average of 82 cents
- Break below 80 cent indicate a target of 70 cents
- Move above 85 cents would reverse the breakdown scenario

EPURE INTERNATIONAL (58 cents) - Testing 100 day moving average
- Price has broken the 50 day moving average of 60 cents
- Neckline is at 54 cents
- Break below 54 cents indicate a target of 43 cents

CHINA AVIATION OIL ($1.10) - Breaks down from the top
- Price is testing support at $1.07 to $1.09
- Breakdown would indicate a target of 85 cents

YANLORD ($2.29) - Dead cross
- Prices have just fallen below the 50 and 100 day moving average at $2.40
- The next support is at $2.20
- Break below would indicate a target of $1.54