Bruised blues break supports

DBS GROUP HOLDINGS ($13.52) – Breaks below support

- Prices broke below the neckline of double top formation

- Eventual downside of $11.80

- Rebound likely to be temporary

OCBC ($8.10) – Breaks below 200 day

- Prices have broken below the 200 day moving average

- However prices have not broken through its double top formation

- Breakdown of double top formation indicates a target of $7

KEPPEL CORP ($8.43) – Hanging on

- Prices is holding above the 200 day moving average

- It has broken the head and should formation at $8.85. Indicates a target of $6

UOB ($18.12) – Breaks below 200 day

- Support is at neckline of double top formation at $17.80

- Any rebound is unlikely to be sustained

- Break below $17.80 indicates target of $15.20

CITY DEVELOPMENTS ($10.34) – At neckline of top formation

- Any rebound at this stage is likely to be temporary

- Break below $10 completes the top formation indicating a target of $8.50

SINGAPORE TELECOMS ($2.82) – Searching for a floor

- Pressure are clearly downwards

- Any rebound is likely to be temporary

- Breakdown level is $2.92 and a break below this level points to target of $2.50

(Source: TheEdgeSingapore May 31, 2010)

Palm-oil play turns slippery

KENCANA AGRI (30 cents) – Still intact

- Holding at support at 30 cents

- Negative divergence between price and RSI

- Break below 30 cents indicate a downside of 26 cents

INDOFOOD AGRI RESOURCES ($2.06) – Top formation

- Support has been established at $2

- Looks poised for a breakdown

- Break below $2 indicates a target level of $1.40

WILMAR INTERNATIONAL ($5.50) – Accelerated decline

- Immediate target of the breakdown is at $4.90

- Downward momentum is pretty strong

- May attempt a rebound soon but it is not sustainable

GOLDEN-AGRI RESOURCES (52 cents) – Still holding

- Immediate moves could actually be higher

- Rebound likely to be temporary

- Resistance at 56 cents

- Break below 52 cents indicate a target of 42 cents

FIRST RESOURCES ($1) – Poised for breakdown

- Support at $1 level

- Resistance is at $1.10

- Break below $1 indicates a target of 80 cents

OLAM INTERNATIONAL ($2.34) – Breaks down

- Resistance at $2.50

- Support at $2.24

- Break below $2.42 indicates a target of $2.08

(Source: TheEdgeSingapore May 24 2010)

Slow boat to China

COSCO CORP ($1.59) - Support should hold

- Prices are near support

- Support should hold

- Immediate resistance is at $1.62

C&O PHARM (45 cents) - Developing uptrend

- Support appears at 43 cents

- If stock's retreat holds at 43 cents, ensuing move could take price to 55 cents

CHINA XLX FERTILISER (56 cents) - At support

- A break above 59 cents indicate a target of 68 cents

- Downside looks limited and upside likely to be contained

CHINA NEW TOWN (12 cents) - Bottoming out

- Prices are trying to find support at current levels

- Resistance is at 14.5 cents

YANLORD PROPERTY GROUP ($1.68) - Conflicting signs

- Support is at hand

- Fundamentals are against a strong upmove

- Resistance is at $1.70

YING LI INTERNATIONAL REAL ESTATE (43.5 cents) - Less downward pressure

- Resistance has been established at 52 cents

- Does not look as weak as Yanlord

(Source: TheEdgeSingapore May 17, 2010)

Can offshore plays stay afloat?

EZION HOLDINGS (66 cents) – At support

- Prices need to move above 66 cents early this week

- If so, prices could go up to 72 cents

FALCON ENERGY GROUP (62 cents) – Breakdown

- Weakest of the offshore plays, based on relative strength

- Initially the break below 70 cents indicated a downside objective of 53 cents

- Prices have been in a downtrend since peaking last September

SWIBER HOLDINGS ($1.08) – Held by moving averages

- Prices are hanging to support at $1.08

- There is pretty good support at $1.0

- Resistance is at $1.10

EZRA HOLDINGS ($1.93) – Possible rebound

- Short term indicators have turned up, and this means that prices should rebound this week

- Resistance appears at $2.08

- Support is at $1.92

MERMAID MARITIME (63 cents) – Greater relative strength

- Prices are trying to find support at current levels

- Break below 60 cents is negative indicating a downside of 40 cents

- Resistance is at 71 cents

SBI OFFSHORE (27 cents) – Still intact

- In April prices broke out of resistance at 25 cents setting target of 33 cents

- Support is at 25 cents

- Prices are likely to ease in the short term

(Source: TheEdgeSingapore May 10, 2010)

Resorts Play

GENTING SINGAPORE (94 cents) – Forming double bottom

- Break above 95 cents indicate a target of $1.03

- Support is at 83 cents

GALLANT VENTURES (27.5 cents) – No breakout yet

- Support has been established at 26 cents

- Resistance is at 30 cents

- Break above 30 cents indicates a target of 40 cents

OVERSEAS UNION ENTERPRISE ($17.20) – Stunning rally

- Last month prices surge gaining some 70%

- Break above $17 indicates a target of $25

GENTING HONG KONG (20 US cents) – Base formation

- Prices appear to be in base formation

- Support is just about at current levels

- Break above 20 US cents would provide the impetus for test of 23 US cents

AUSSINO GROUP (10 cents) – Out of the picture

- If prices can hold above 10 cents, they would have moved above the 200 day moving average

- Break above 10.5 cents sets a new upside target for the year

BANYAN TREE (80.5 cents) – Breaking out

- Prices are at the top of a base formation

- A successful break would indicate a target of 92 cents

(Source: TheEdgeSingapore May 3 2010)