Fatigued blue chips take a rest

DBS GROUP ($14.36) – Rangebound
- Support will likely appear at $14.12 to $14.15
- Resistance is at $14.90
- Prices are unlikely to break out or downward in the next 2 weeks
- Further out pressures may actually be downwards

GENTING SINGAPORE ($2.22) – Still intact
- Break above $2.18 gives a measuring objective of $2.51
- This remains valid unless price is unable to hold above $2.18

SINGAPORE AIRLINES ($15.76) – Getting ready to descend
- Prices are current at support
- $15.90 is looking like the neckline of a top formation
- Break downward would indicate a minimum target of $15.20

KEPPEL CORP ($9.71) – Fatigues sets in
- Uptrend remains intact and any correction should be temporary
- Support appears at $9.30
- It remains to be seen whether prices can clear $9.85

JARDINE MATHESON (US$44.40) – Building a top
- Technicals do not look very promising
- Break below US$44.45 would indicate an immediate target of $40
- Resistance is at US$48

SINGAPORE TELECOMMUNICATIONS ($3.07) – Losing connection
- Resistance is at $3.15 level
- Support is at $3.04 to $3.05
- Break below this level indicates an immediate downside to $2.85

(Source: TheEdgeSingapore October 25 2010)