Tech is best

ARMSTRONG INDUSTRIAL CORP (41.5 cents) – Forming a top

-        Best gains for this counter are possibly behind it for the time being

-        Prices may be forming a top

-        Break below the neckline at 42 cents completes a top and indicates a target of 35 cents

FU YU CORP (13 cents) – Temporary retreat

-        Pullback should find support at 12 cents

-        Break above 13 cents would complete a bull flag and indicate a target of 17 cents

STATS CHIPPAC ($1.29) – Outperformer

-        Prices broke out of resistance at $1.17 two weeks ago

-        Break indicate an eventual target of $1.75

-        Support is at break out level

CREATIVE TECHNOLOGY ($4.01) – Drifting lower

-        Downward pressure has been exerted by the declining moving averages

-        Prices may continue to drift

SERIAL SYSTEM (13 cents) – Upmove intact

-        Break above 11.5 cents indicated a target of 18 cents

-        Technical indicators suggests that uptrend has yet to run its course

UMS HOLDIGNS (41 cents) – Building a top

-        Prices may be starting to build a top

-        Prices are likely to establish the neckline at 40 cents

-        Resistance is at 44 cents

-        Prices may fall below 40 cents with downside at around 30 cents

(Source: TheEdgeSingapore August 16 2010)