The meteor effect

SINGAPORE EXCHANGE ($8.88) - May move into a range
- Stock could experience a period of sideways ranging
- Support at $8.60 and resistance at $9
- Eventually a breakdown would provide the next downside objective

GENTING HONG KONG (45 US cents) - Testing support
- This counter's meteoric rise may well be over for the time being
- Prices appear to be building a top formation
- Breakdown would indicate a downside objective of 32 US cents

GMG GLOBAL (30 cents) - In a peaking process
- Support appears at 28 cents
- Break below would end the uptrend
- 50 day moving average is at 26 cents

SUNVIC CHEMICAL HOLDINGS (63.5 cents) - Waiting for its downturn
- Nearest support is at 48 cents and that isn't very strong
- Initial downside is at 43 cents

PAN-UNITED CORP (57 cents) - Retreat in force
- There is some support at current levels at 55 cents
- Resistance is at 60 cents

BIOSENSORS INTERNATIONAL ($1.10) - Breaks out
- This is the stock that still looks positive
- Prices broke out of $1.10 setting at target of $1.26
- Break below $1.10 would mean that all bets are off

(Source: TheEdgeSingapore November 1 2010)