Playing by proxy

NOBLE GROUP ($1.68) – Breaks out of downtrend

-        Prices have broken out of a downtrend

-        Current moves are probably part of a broader base formation with neckline at $1.71

-        Eventual break above this level indicates a target of $1.90

ABTERRA ($1.31) – The new role

-        Prices have broken out of their 50 day moving average and 100 day moving average

-        Resistance appears at $1.52

-        Next resistance  is at $1.65

WILMAR INTERNATIONAL ($6.35) – Fading glory

-        Last Wednesday, the 50 day moving average crossed above the 100 day moving average

-        Breakout level is at $6.48

-        Successful break indicates a target of $7

-        Nomura Securities has a target of $8.24

KENCANA AGRI (38.5 cents) – Attractive target

-        Prices will likely continue on their uptrend

-        Breakout level is at 39 cents

-        Successful breakout would indicate a measuring objective of 45 cents initially and 50 cents eventually

CHINA AVIATION OIL ($1.47) – Turning up

-        Prices are hovering just above support level at $1.42

-        Resistance is at $1.47

-        A successful break indicates a target of $1.70

OLAM INTERNATIONAL ($2.72) – No clear leads

-        There is no clear trend

-        Resistance appears at $2.80

-        Support has been established at $2.50

(Source: TheEdgeSingapore September 13 2010)