Resort's world

Genting Singapore ($1.53) – Shooting star

-        Inability to rise above the top of the shadow displays a hint of technical weakness

-        Level to watch out is $1.50

-        Break below $1.50 indicates a downside target of $1.26

-        Resistance is at $1.69

Genting Hong Kong (28 US cents) – Poised for a breakout

-        Resistance is at twice tested 29 US cents level

-        Support is at 25 US cents

-        A successful break indicates a target of 36 cents

Banyan Tree (13 cents) – At support

-        This counter looks quite promising

-        Support is at 83 cents

-        Breakout level is at 86 cents

-        A successful break indicates a target of $1.05 with initial resistance at 95 cents

Ascott Residence Trust ($1.25) – At breakout point

-        One of the strongest looking charts at this stage of the market

-        A successful break above $1.25 indicates a target of $1.50

CDL Hospitality Trusts ($2.05) – Moving gradually higher

-        Prices have been trending upwards for the past 18 months

-        Support is at $1.90

-        Earlier break above $1.90 indicated a measuring objective of $2.30

-        Prices may find in difficult in maintaining their upward momentum

Hotel Properties ($2.98) – Still rising

-        Main uptrend is in force

-        A successful break above $3 indicates a new upside of $3.30

(Source: TheEdgeSingapore August 23 2010)