Interest buoys selected offshore plays

C2O HOLDINGS (43.5 cents) - At resistance

- Support is probably at 40 cents

- Rally occurred on a significant increase in volume

- Break above 45 cents indicate a target of 55 cents

HOE LEONG CORP (40 cents) - Challenging moving averages

- Any retreat is likely to meet support at 36 cents

- Break above 40 cents indicates a target of 51 cents

FALCON ENERGY (65 cents) - That sinking feeling

- Counter looks like it could be breaking down

- Last week, counter broke below support of 68 cents. Downside objective is 50 cents

- Break above 68 cents would negate the bearish outlook

SWISSCO HOLDINGS (87 cents) - Testing resistance

- Staged a robust recovery on significant expansion of volume

- Price support is at 84 cents

- Break above 88 cents indicates a target of $1

EZRA HOLDINGS ($2.32) - Needs a lifebuoy

- Looks less robust than some of the other offshore plays

- Uptrend is still intact. Price looks in danger of violating uptrend line

- Resistance is at $2.25 to $2.26

- Support is at $2.19 and $2 respectively

EZION HOLDINGS (73.5 cents) - Still afloat

- Resistance is at 76 cents

- Break above 76 cents sets the stage for a test of 90 cents

- Fail point is at 70 cents

(Source: TheEdgeSingapore March 8 2010)