Property stocks fall earthwards

CITY DEVELOPMENTS ($12.34) – Breaks double top
- Prices broke below double top at start of the week
- Breakdown indicates target of $11.60
- Resistance is at $13

CAPITALAND ($3.73) – Downtrend in force
- One of the weakest in the property sector
- Technicals point to a temporary rebound
- Resistance appears at $3.80 and $4
- There is some support at $3.70 but more meaningful support appears at $3.50

ALLGREEN PROPERTIES ($1.16) – Testing support
- Prices are testing support at $1.16
- Break below $1.16 cannot be ruled out. If it breaks, it would indicate a target of $1
- Resistance is at $1.20

KEPPEL LAND ($4.63) – Retreat under way
- Strongest counter in a weak sector
- Initial support is at $4.38
- Inability to test $5 would set the counter up for a top formation

WING TAI HOLDINGS ($1.75) – At support
- Prices are testing support at $1.72
- Breakdown would indicate a target of $1.56
- Resistance is at $1.85

SC GLOBAL ($1.60) – Poised for a breakdown
- Prices look set to sink
- Support is at $1.55
- A breakdown through support would indicate a target of $1.35
- Resistance is at $1.67

(Sources: TheEdgeSingapore November 29, 2010)

Price inflation no help to commodity plays

GOLDEN AGRI-RESOURCES (72 cents) – Retreat underway
- Prices are now suggesting an all-round easier phase ahead
- Prices should not fall below 69 to 70 cents for uptrend to remain intact
- Resistance is at 77 cents

WILMAR INTERNATIONAL ($6.25) – Poised for breakdown
- Prices are now sitting on a confluence of supports at $6.25 to $6.30 level
- Indicators do not point to any strong upmove either
- Break below $6.30 points to a decline to $5.50

OLAM INTERNATIONAL ($3.10) – Forming triple-top
- Prices may break down below the neckline of triple top
- Break down would indicate a target of $2.70

NOBLE GROUP ($2.08) – Retreat underway
- Original break above $2.50 indicated a target of $3.16
- In the short term, prices are likely to ease towards breakout level

INDOFOOD AGRI ($2.65) – Set to ease
- Prices are in sharp retreat
- Immediate support is at $2
- The still rising 50 day moving average is at $1.92. If this gives way, and it looks likely, prices could fall to $1.78

GOLDEN PALM RESOURCES (35 cents) – That sinking feeling
- Prices are sinking into the breakout level at 36 cents
- Price support appears at 35 cents
- Resistance is at 39 cents

(Source: TheEdgeSingapore November 22, 2010)

Jardine Group makes a splash

MANDARIN ORIENTAL (US$1.96) – Upside target to be met
- Earlier break above US$1.75 indicated a target of US$2.15
- Indicators are suggesting further upmove
- Prices may be a able to re-test high of US$2.81 by the time the uptrend has run its course

DIARY FARM (US$8.02) – Poised for breakout
- Prices appear poised for a break above US$8.10
- Successful break indicates target of US$9

HONGKONG LAND (US$7.19) – Upside target set
- Prices broke out into a new all-time high last week
- There is a target of US$8 following an earlier break above US$5.40

JARDINE CYCYLE & CARRIAGE ($39.10) – Attempting breakout
- It is testing the year’s high and all-time high at current levels
- Breakout indicates target of $44
- Support is at $38.76

JARDINE MATHESON HOLDINGS (US$47.52) – Attempting breakout
- Resistance is at US$47.70
- Break above this level indicates a target of US$56.70
- Risk reward ratios look increasingly unfavourable

JARDINE STRATEGIC HOLDINGS (US$27.26) – Regains 50 day moving average
- Prices managed to regain its 50 day moving last week
- Resistance is at US$27.70
- Break would catapult prices to new high of US$30

(Source: TheEdgeSingapore November 8 2010)