Blue-chips mixed

GREAT EASTERN HOLDINGS ($16.56) - Greater relative strength

- If any correction materializes, it is likely to be temporary

- Support appears at $15.80

- There is a target of $18 from an earler breakout

DBS GROUP HOLDINGS ($13.44) - Temporary bounce

- Prices broke below support/neckline at $13.90 to $14

- Break indicates a target of $12.60

OCBC ($8.31) - On the brink

- Prices have fallen below the 200 day moving average at $8.39

- Levels to watch out for are a breakdown below $8.20

. That would indicate a target of $7.10

- Resistance is at $8.39

UNITED OVERSEAS BANK ($18.94) - Intact

- Prices are still holding above its 200 day moving average

- Resistance is at $19.40

SINGAPORE EXCHANGE ($7.39) - Bottom of downtrend channel

- Resistance appears at $7.50, a breakdown level

- Original breakdown indicated a target of $6.20 and this could be met in due course

CAPITALAND ($3.54) - At support

- Although supports can break, the worst decline could be over

- Rebound is unlikely to be strong and the counter is likely to be range-bound

- Resistance appears at $3.70

- Break below $3.50 would indicate a new downside target

(Source: TheEdgeSingapore June 14 2010)

Shipyards attempt re-float

BAKER TECH (41 cents) – Rebounds off support

- Resistance is at 43 cents

- Prices may find it difficult to sustain the pace of the rebound

- Support is at 39 cents

SEMBCORP MRINE ($3.75) – At support

- Upturn in the indicators should be able to support further price gains

- Resistance is at $4

COSCO CORP ($1.40) – Near support

- Immediate resistance is at $1.50, which could eventually be breached

- Next level of resistance is at $1.65

YANGZIJIANG ($1.27) – Should rebound

- Prices should rebound soon. They have found support within $1.24 to $1.27 range

- Break above $1.27 would provide impetus for price to move to $1.40

SEMBCORP INDUSTRIES ($4.03) – In rebound mode

- Prices have found support at $3.80

- Resistance is at $4.12

- A successful break sets an upside of $4.40

OTTO MARINE (40 cents) – Also at support

- Prices have approached a support area

- Short term indicators are at oversold lows and upturn is likely soon

- Resistance is at 45 cents

(Source: TheEdgeSingapore June 7 2010)