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)