Buoyant start to 2010 by offshore stocks

COSCO CORP ($1.31) - Is this the real thing?

- Technically there appears to be institutional buying

- Quarterly momentum broke out of its resistance leveland continues to rise

- Immediate resistance at $1.44

- Support is at $1.23

KEPPEL CORP ($8.65) - Poised for breakout

- Quarterly momemtum is turning up and breaking out of an eight-month downtrend

- Break above $8.61 indicates a target of $9.61

- Break below $8.61 would negate the target

YANGZIJIANG SHIPBUILDING ($1.25) - Challenging resistance

- Prices are at resistance level

- Black candle and easing volume suggest that breakout is unlikely in near term

- Support appears at $1.19

- Prices should be able to break above $1.25 to $1.26 level before month is out

- If breakout occurs, new target is likely to be $1.50

ASL MARINE ($1.03) - Struggling at resistance

- $1 mark may provide resistance

- Support appears to be at 95 to 98 cents

SEMBCORP INDUSTRIES ($3.70) - Short-term retreat

- An earlier break above $3.51 indicated a target of $4.07 to $4.08

- Support should be raised to $3.58

SEMBCORP MARINE ($3.77) - Temporary retreat

- Support appears at $3.56

- Earlier break above $3.60 indicated a target of $4. This remains valid

(Source: TheEdgeSingapore, January 11 2010)