Tech plays in the limelight

BROADWAY ($1.20) – Attempting breakout

-        Quarterly momentum is turning up

-        Likely price break above $1.25 resistance

-        Successful break indicates a target of $1.40

-        Support at $1.16

DMX TECH (35 cents) – Base formation

-        Prices have been entrenched in range of 34 to 36 cents

-        Quarterly momentum and ADX are flat

FRENCKEN (32 cents) – Rebounds off support

-        Prices should be able to reach and breach 37 cents

-        Successful break indicates a target of 51 cents

-        Fail point is at 30.5 cents

LONGCHEER (72 cents) – No cheer yet

-        In terms of relative strength, this is one of the weaker tech stocks

-        Resistance is at 75 cents

-        Prices have an even chance to break out

-        Successful break indicates a target of 80 cents

-        Support is at 70 cents

UMS HOLDING (42 cents) – Somewhat overstretched

-        Prices appear stretched

-        If it can break above 41 cents, the target indicated is 48 cents

-        Support is at 40 cents

ROKKO HOLDINGS (16 cents) – Shooting star

-        Shooting star formation may temporarily curb advances

-        Prices need to break 17 cents to confirm upmove

-        Support is at 15 cents

-        Break above 17 cents indicates a target of 23 cents

(Source: TheEdgeSingapore August 2 2010)