Yield plays retain value

M1 ($2.41) – Entrenched sideways
- Support is at $2.35
- Prices could well remain within narrow range
- Resistance at $2.46

SBS TRANSIT (($1.70) – Continues to trend down
- Support is at $1.65
- Resistance is at $1.735
- Prices are unlikely to make much headway in the near term

SINGAPORE TELECOMMUNICATIONS ($3.10) – Greater relative strength
- This counter has greater relative strength
- Prices may not break above resistance at $3.27
- Support at $3.04

SINGAPORE PRESS HOLDINGS ($3.63) – At support
- There is ample support at $3.60
- Any recovery is likely to be slow
- Resistance at $3.79

ST ENGINEERING ($2.63) – Poised for breakdown
- Prices are at support at $2.65
- Break below $2.65 would indicate a target of $2.25
- Indicators support breakdown scenario

STARHUB ($2.89) – Sideways trend
- Probably the strongest of the telcos at present
- Support is at $2.85
- Prices are not likely to break above resistance at $2.92

(Source: TheEdgeSingapore December 19, 2011)

Property stocks continue to drift

CITY DEVELOPMENTS ($9.18) – Retreat in force
- Quarterly momentum is starting to retreat
- Trying to form a base but selling pressure appears every time
- Support is at $9

CAPITALAND ($2.42) – Still moving sideways
- Appeared closest to breaking out within the sector
- Quarterly momentum is turning down
- Sideway trend likely to persist
- Support is at $2.35

KEPPEL LAND ($2.42) – Resumes retreat
- Downtrend is still in force
- One of the weakest counter in the sector
- Prices are likely to fall and eventually break below $2.30

UOL GROUP ($3.97) – Weakening against sector
- Oct 4 low was at $3.80
- Price below this level points to objective of below $3

HO BEE INVESTMENTS ($1.14) – Continues to trend down
- Set to continue downtrend
- Support at $1.18 was broken indicating a move towards 90 cents

WING TAI HOLDINGS ($1) – No let-up in downtrend
- Prices broke several times tested $1.05 level
- Downtrend likely to persist
- Break below $1.05 indicates an objective of 75 cents

(Source: TheEdgeSingapore December 12, 2011)

Against the trend

GOLDEN ARGI-RESOURCES (71.5 cents) – Stronger than the market
- Counter has gained relative strength against the market
- Breakout level is at 68 cents
- Break above 68 cents indicates a target of 81 cents
- Move below 67 cents invalidates upmove

INDOFOOD AGRI RESOURCES ($1.32) – Gains strength
- Prices appear to be struggling
- Move above $1.30 on high volume is needed for upside breakout
- Support is at $1.25

KENCANA AGRI (34 cents) – Short-term sideways
- Quarterly momentum has started to rise
- Breakout level is at 35 cents
- Support is at 32 cents

WILMAR INTERNATIONAL ($5.16) – Possible breakdown
- Support is at $5 and a breakdown would lead to retest of $4.38
- Move above 50 and 100 day moving averages invalidate the breakdown scenario

OLAM INTERNATIONAL ($2.36) – Rebounds off support
- Prices found support at $2.20
- Resistance is at $2.40
- Break below support gives a target of $1.80

NOBLE GROUP ($1.20) – Rebound temporary, downtrend to resume
- Counter remains weak
- There is some support at $1
- Resistance is at $1.18

(Source: TheEdgeSingapore December 5, 2011)

Under pressure

DBS GROUP HOLDINGS ($12.06) – Breaks below moving average
- Black candle on the breakdown is accompanied by increase in volume
- Support is at $10.87
- Uptrend for this counter could come to an end if prices break below $12.10

OVERSEA-CHINESE BANKING CORP ($7.88) – Resumes decline
- Temporary rebound appears to be over
- ADX has turned up and DIs have turned negative
- Support is at $7.68

UNITED OVERSEAS BANK ($14.95) – Retest of November low
- Prices are in sharp downmove and are likely to move lower
- Prices have fallen below psychological $15 level

FRASER AND NEAVE ($6.19) – Gains relative strength
- This counter remains one of the strongest stocks in the market
- Support is at $5.90 to $6 range
- Resistance is at $6.30 mark
- Successful breakout would indicate a target of $7.30

JARDINE CYCLE & CARRIAGE ($45.20) – Rebounds off support
- Uptrend appears to be still intact
- Prices are testing 50 day moving average at current levels of $44.10
- Resistance is at $48.80 to $49

JARDINE MATHESON (US$49.15) – Support at hand
- Prices are testing support at around US$48
- Price upmove are likely to be capped at $53.50
- Breakout would give a new upside objective

(Source: TheEdgeSingapore November 28 2011)

Reverse head-and-shoulders updates

HI-P INTERNATIONAL (67.5 cents) – Recovery to continue
- ADX is rising against positively placed DIs
- Support is at 65 cents
- Break above 72 cents indicates a target of 84 cents

KEPPEL CORP ($9.13) – Reversal still in progress
- The reverse head and shoulder is on-going
- Support is at $8.90
- Resistance/breakout is at $9.40
- Successful break indicates at target of $11.50

SEMBCORP INDUSTRIES ($4.20) – Ongoing right shoulder
- Prices are still in the process of forming the right shoulder
- Resistance is at $4.35
- Support is at $3.96 to $3.99 level

SEMBCORP MARINE ($3.96) – Reversal could fail
- Reverse head and shoulder formation is in danger of failing
- Support is at $3.77 level
- Resistance is at $4.30

YANLORD LAND GROUP ($1.19) – Lopsided reversal
- Broke out of a lopsided reversal at $1 and continued to rise
- If prices can hold above $1 on the retreat, the recovery is intact
- This stock carries high risk and its debt has been recently downgraded

YING LI INTERNATIONAL REAL ESTATE (27.5 cents) – Drawn-out base formation
- Reverse head and shoulders pattern is still ongoing
- Support is at 25 cents
- Break above 30 cents would indicate a target of 45 cents

(Source: TheEdgeSingapore November 21, 2011)

Calm amid the storm

FRASER AND NEAVE ($6.09) – Attempting reversal
- Continues to gain relative strength
- 50 day moving average could soon move above the 200 day moving average
- Price are near resistance at $6.30
- Support is at $5.89

CITY DEVELOPMENTS ($10.25) – Reverse head and shoulders
- Reverse head and shoulder pattern looks quite prominent
- Quarterly momentum is attempting to strengthen
- A breakout indicates a target of $12
- Support has been established at $9.60

WING TAI HOLDINGS ($1.25) – Meandering base
- Counter looks like forming a double bottom
- Chart pattern looks weak
- Support is at $1.21
- Resistance is at $1.30

KEPPEL LAND ($2.66) – Attempting reverse head and shoulders
- Reverse head and shoulder pattern is still developing
- Quarterly momentum remains weak
- Support is at $2.55
- Resistance/breakout is at $2.80

CAPITALAND ($2.64) – Drawn out base formation
- Quarterly momentum remains in negative territory
- Price are stuck in the base area at $2.60 to $2.70 range
- Support is raised to $2.50
- Break above $2.70 indicates a target of $3.60

HO BEE INTERNATIONAL ($1.25) – Downtrend still in force
- One of the weakest stocks in the property sector
- Quarterly momentum confirms the downtrend
- Immediate support is at $1.24. Break above $1.30 would break the declining trend
- Break below this level indicates downside around $1.08

(Source: TheEdgeSingapore November 14 2011)

A bunch of reverse heads and shoulders

DBS GROUP HOLDINGS ($12.49) – Attempting reversal
- A clear reverse head and shoulders formation is developing
- Resistance is at $12.90
- Support has been established at $11.70

KEPPEL CORP ($9.20) – Looks like a reverse head and shoulders
- The reverse head and shoulders formation looks quite prominent
- Prices are keen to attempt a test of neckline at $9.70
- 50 day moving average is at $8.49

SEMBCORP MARINE ($4.10) – Attempting reverse head and shoulders
- Prices appear to be gaining strength
- Top of the right shoulder is at $4.40
- If prices moved sideways for too long, then reversal is deemed to have failed

SEMBCORP INDUSTRIES ($4.15) – A sharp right shoulder
- Quarterly momentum appears to be strengthening
- Break below $3.85 would invalidate the formation
- Resistance is at $4.40

HI-P INTERNATIONAL (61 cents) – Attempting breakout
- Indicators are weak
- Prices in danger of falling below the 50 day moving average at 58 cents
- Support is at 57 cents and resistance is at current levels
- Breakout would indicate a target of 72 cents

ELEC & ELTEK (US$2.90) – Still a way to go
- Prices haven’t form a reverse head and shoulder but may be in process of forming one
- Prices should move within a range to form the right shoulder
- Support is at US$2.90 and resistance is at US$3.04

(Source: TheEdgeSingapore November 7 2011)

Hard landing for Chinese S-chips

GLOBAL LOGISTIC PROPERTIEIS ($1.595) – Drifting lower
- Support is at $1.48
- Break below support indicates a target of $1.36
- Resistance is at $1.80
YANLORD LAND GROUP ($1.085) – Temporary rebound is over
- Sharp rebound looks like over for now
- Support has been established at 70 cents
- Prices could fall back as the 100 day moving average acts as resistance
YING LI INTERNATIONAL (28.5 cents) – Weaker than sector
- Quarterly momentum remains in a downtrend
- Counter has underperformed some of its larger peers
- Support is at 20 cents
PAN HONG (32 cents) – Temporary rebound possible
- Quarterly momentum is at a low point
- Resistance is at 36 cents
- Any rebound is unlikely to be sustained
- Support is at 26 cents
CENTRALAND (40 cents) – Totally sidelined
- Based on declining quarterly momentum prices could fall
- Support is at 30 cents
- Resistance is at 45 cents
CAPITARETAIL CHINA TRUST ($1.1.75) – Should start to strengthen
- Prices are stuck below 50 day moving average
- Prices may be strong enough to attempt a test of $1.185
- Support is at $1.15
(Source: TheEdgeSingapore October 31 2011)

Index components have mixed outlooks

JARDINE C&C ($41.40) – Uptrend intact
- Uptrend still intact
- In the short term prices are likely to move sideways
- Support is at $38 and resistance is at $43

JARDINE MATHESON HOLDINGS (US$49.95) – Greater relative strength
- Counter has sustained its uptrend
- Annual momentum is still above its equilibrium line
- Support/breakdown is at $48 level
- Resistance appears at US$51

KEPPEL CORP ($8.78) – Downtrend intact
- Volume contracted during the two week rebound
- Annual momentum continues to fall
- Support has been established at $7
- Resistance is at $9

SEMBCORP MARINE ($3.76) – Reverting to trend
- Annual momentum has fallen below its equilibrium line
- Volume expanded on black candle weeks a sign that there is selling pressure
- Rebound is a countertrend move and unlikely to be sustained
- Resistance is at $4 support is at $3.20

SEMBCORP INDUSTRIES ($3.94) – Shooting star
- Prices have rallied but volume contracted during white candle weeks
- The testing of resistance is at $4
- Short term oversold pressures have been alleviated
- Support/breakdown is at $3.40

SINGAPORE AIRLINES ($10.92) – Resumes downtrend
- The downtrend remains intact
- Temporary rally was triggered by short term oversold pressures
- Resistance is at $11.45, support appears at $10.40

(Source: TheEdgeSingapore October 24 2011)

Safety in the markets

CAPITAMALLS TRUST ($1.88) – Seeking alpha
- In trading range all year
- Test the confluence of 100 and 200 day moving averages at $1.85
- Ceiling appears at $1.92
- Support at $1.78

CAPITARETAIL CHINA TRUST ($1.17) – Limited downside and upside
- Volume shrank on the decline, indicating absence of selling pressure
- Support is at $1.15
- Resistance is at $1.20

CAPITAMALLS ASIA ($1.28) – Forming a bottom?
- Technical indicators are looking better than the STI
- Volume has been rising on white candle days
- Downtrend intact unless it clears $1.36
- Support is at $1.14

CAPITALAND ($2.52) – A positive divergence
- There is now a clear divergence between price and quarterly momentum
- Resistance is at $2.51
- Support is at $2.38 to $2.43 range

FRASERS CENTREPOINT TRUST ($1.46) – Testing resistance
- This counter is one of the first to move above its 50 day moving average at $1.45
- It is also trying to clear its 100 day moving average
- Prices will probably remain within a narrow range between $1.45 and $1.50

MAPLETREE INDUSTRIAL TRUST ($1.15) – Attempting a rebound
- Prices found support at $1.05
- Prices should move sideways in the next few weeks
- Any recovery is likely to meet resistance between $1.13 to $1.14 region
- Prices remain above its IPO price of 93 cents

(Source: TheEdgeSingapore, October 17 2011)

S-chips' loss in transition

CHINA ANIMAL HEALTHCARE (22.5 cents) – Heading back to 2008
- Prices could yet decline further
- Prices are headed towards 2008 level

CHINA MINZHONG (87.5 cents) – Temporary reprieve for a penny stock
- Prices are at their lowest since listing
- Resistance at 90 cents
- Prices are likely to break 84 cents which indicates a target of 60 cents

SYNEAR FOODS (12.9 cents) – Testing crisis low
- Prices appear to have stopped falling
- Recovery doesn’t look forthcoming
- Near term price movements are between 12 and 14 cents

SOUND GLOBAL (46.5 cents) – Heading south
- Global financial crisis low of 17 cents could be retested
- Psychological 50 cent mark is likely to act as resistance

MIDAS HOLDINGS (34 cents) – Approaching 2008 low
- The 2008 low was 29 cents and prices are approaching this level
- Recovery may be meager and insipid

YANDLORD LAND (83.5 cents) – Support appears at 2008 low
- Current rebound is temporary and prices have yet to bottom
- Selling pressure still exists on the weekly chart

(Source: TheEdgeSingapore October 10, 2011)

Cyclicals break supports

KEPPEL CORP ($7.94) – Breaks support
- Prices broke below support at $8.40
- Breakdown indicates target of $7.30
- Resistance is at $8.40

NOBLE GROUP ($1.40) – No let up in decline
- Area around $1.30 is weak and is likely to be breached
- Breakdown indicates target of 96 cents
- Any rebound to be mild

SWIBER (50 cents) – Set for a break below 44 cents
- Support is at 44 cents and is set to be breached
- Breakdown indicates target of 30 cents

SEMBCORP MARINE ($3.35) – Breaks support
- Broke support at $3.60
- Measuring objective of $2.80
- Resistance is at $3.60

OLAM INTERNATIONAL ($2.33) – Better relative strength
- Quarterly momentum is in negative territory
- Support is at $2.05
- Resistance is at $2.45

YANGZIJIANG SHIPBUILDING (93 cents) – Poised for a break
- Prices are breaking support at 95 to 96 cent range
- Breakdown indicates a target of 75 cents
- Any rebound is likely to be mild

(Source: TheEdgeSingapore October 3 2011)

Banks and properties in firing line

DBS ($12.10) – Trying to find a low
- All three moving averages are falling after forming dead crosses
- Breakdown below $13.50 indicates a target of $11.50
- A move above $13 would stem the downtrend

UOB ($17.33) – No shelter from the storm
- Prices appear poised to break below support at $17.20 to $17.50
- Breakdown indicates a target of $14

CAPITALAND ($2.52) – Gains relative strength
- Diminishing volume and narrow movements are indicative of a bottoming
- Near term moves will likely be sideways
- Support is at $2.38 to $2.43 range

FRASER & NEAVE ($5.70) – Retreating from resistance
- Prices are now testing confluence of resistance at $5.75 and $5.83
- Support has been established at $5.40
- Break below $5.40 indicates a target of $4.80

KEPPEL LAND ($2.82) – Testing support
- It may have found temporary support at current levels
- Breach of $2.86 likely
- Break below support indicates target of $2

OCBC ($8.13) – Still trending down
- Short term oversold pressures may trigger a temporary bounce
- Price broke double top formation at $8.60 indicating a target of $6
- Rebound will likely find resistance at $8.60

(Source: TheEdgeSingapore September 26 2011)

Commodity stocks stage temporary rebound

OLAM INTERNATIONAL ($2.49) – rally meets resistance
- Quarterly momentum is in a declining trend
- Support has been established at $2.10
- Break below support indicates a target of $1.60
NOBLE GROUP ($1.615) – still a downtrend
- Selling pressure remains higher than buying demand
- There is some support at $1.32
- Eventual bottom is most probably below $1
WILMAR INTERNATIONAL ($5.230) – attempting base formation
- Prices are attempting to form a base
- Upmoves will be limited to resistance level at $5.43
- Support is at $5
GOLDENAGRI RESOURCES (66.5 cents) – building a base
- Price rally is unlikely to move above moving averages at 68 cents
- Support is at 62 cents
- Break below support indicates a target of 55 cents
KENCANA AGRI (36 cents) – temporary rebound, part of broader base
- Recent upmove is likely to find resistance
- Support has been established at 36 cents
CHINA MINZHONG ($1.265) – rebound in a downtrend
- Prices remain in a downtrend
- Resistance appears at $1.30
- Support is at $1.14
(Source: TheEdgeSingapore September 5 2011)

Banks suffer selldown

DBS GROUP HOLDINGS ($12.98) – A downtrend
- Prices appear poised to break down below neckline
- Breakdown level is $13.50 and indicates a target of $11.50

OVERSEA-CHINESE BANKING CORP ($8.56) – Double top
- Prices are breaking down below double top formation at $8.60
- Breakdown indicates a target of $6
- Rebound is likely to find resistance at $8.60

UNITED OVERSEAS BANK ($17.80) – The last shoe to fall
- Prices appear poised to break support at $17.20 to $17.50
- Breakdown indicates a target of $14

SINGAPORE AIRLINES ($10.61) – Approaching the bottom
- Short term oversold readings may trigger a rebound to $11
- Overall direction is still downwards
- Technical indicators are still negative

KEPPEL CORP ($8.47) – Breaks neckline support
- Head and shoulders top is evident
- Breakdown level is at $10
- There is some support at $7.67

JARDINE CYCLE & CARRIAGE ($43.59) – Long-term uptrend intact
- Short term oversold readings could trigger a bounce to $47
- Significant support appears at $38.90

(Source: TheEdgeSingapore August 29 2011)

Nowhere to hide

KEPPEL CORP ($8.86) – Breaking a top
- Short term indicators are oversold
- Downtrend is likely to develop
- Break below the neckline indicates a target of $8

NOBLE GROUP ($1.44) – Still a long way to fall
- Decline looks likely to accelerate
- Resistance likely be at $1.60
- There could be some stoppage as prices approach $1

SEMBCORP INDUSTRIES ($4.09) – Downside overdone
- Heavily oversold short-term stochastics could trigger a temporary rebound
- Resistance is at $4.50
- Trend is likely to be downwards
- Break below the top formation indicates a target of $3.77

SEMBCORP MARINE ($4.15) – Temporary bounce possible
- Temporary rebound is likely
- Downtrend set to continue subsequently
- Support appears at $3.60

GENTING SINGAPORE ($1.68) – Breaks neckline support
- Prices broke below the neckline indicating target of $1.30
- Quarterly momentum is only just breaking down
- Any rebound is likely to be temporary
- Resistance appears at $1.80

FRASER & NEAVE ($5.39) – Stronger than market
- Prices are trending lower
- An earlier break below $6 indicates target of $5.40 and $5
- Resistance is at $6

(Source: TheEdgeSingapore August 15 2011)

Local blue-chips hold their own

SINGAPORE TELECOMMUNICATIONS ($3.31) – Gains relative strength
- Prices broke out of resistance level in July
- Break indicates a target of $3.60
- Support is at $3.18
WILMAR INTERNATIONAL ($5.84) – The comeback kid
- Prices have continued to strengthen since mid July
- Price break above $5.30 indicates an initial target of $5.70 and subsequent target of $6.30
- Support is at $5.70
JARDINE CYCLE & CARRIAGE ($48.90) – Uptrend intact
- Uptrend remains intact
- The next stage for prices would probably be to form a top
DBS GROUP ($14.33) – Breakout indicates new upside target
- Prices have cleared several times tested resistance area
- Break indicates an initial target of $16
- Direction should be upwards
UNITED OVERSEAS BANK ($20.40) – Breakout leads to move up
- Break above resistance at $19.50 indicated a target of $21
- Any retreat is likely to be temporary
- Support is at $20
SINGAPORE AIRLINES ($14.71) – Poised for breakout
- In the short term prices may meet resistance at current levels
- Break above $14.50 indicates an initial target of $16
(Source: TheEdgeSingapore August 1 2011)

Where the main components stand

SINGAPORE TELECOMMUNICATIONS ($3.21) – Gains relative strength
- Resistance is at current levels
- Prices remain range bound
- Break above current levels is unlikely
- Support is at $3.04

WILMAR INTERNATIONAL ($5.56) – Bottoming formation
- Prices have moved above resistance at $5.30
- Break above resistance indicates a target of $5.70 which looks attainable

JARDINE MATHESON HOLDINGS (US$54.70) – Uptrend intact
- Trend is upwards
- Resistance is at $56.50
- Break below $52.70 would indicate a downside of $49

DBS GROUP ($14.70) – Facing resistance
- ADX would need to turn up and DIs positively placed in order for breakout to occur. May not occur in the near term
- Support is at $14.40 to $14.50

OVERSEA-CHINESE BANKING CORP ($9.35) – Weakest stock in sector
- Weakest of the bank stocks at the moment
- Prices are likely to move sideways
- Support is at $9.20
- Resistance is at $9.55

UNITED OVERSEAS BANK ($19.52) – Attempting breakout
- Counter appears poised for a breakout
- Breakout level is at $19.50
- Successful break indicates target of $21
- Support is at $19.50 if prices are to start an uptrend

(Source: TheEdgeSingapore July 18 2011)

Healthcare counters gain strength

BIOSENSORS INTERNATIONAL ($1.345) – Should move higher
- Quarterly momentum appears to be under pressure
- Prices are likely to move up at least to resistance at $1.40
- If price breaks above resistance, it indicates an objective of $1.60
- Support is at $1.26

FIRST REIT (79.5 cents) – Superior relative strength
- One of the strongest stocks in healthcare sector
- 80 cents may provide resistance in the immediate term
- Break above resistance indicates objective of 95 cents
- Support is at 76 cents

RAFFLES MEDICAL GROUP ($2.34) – Attempting to recover
- Chart pattern could be showing signs of strengthening
- Resistance is at $2.35 level
- Successful break indicates target of $2.55

PARKWAY LIFE REIT ($1.83) – Facing resistance
- Support is at $1.79
- Resistance is at $1.84 to $1.85 level
- Low ADX points to a very narrow range in price movement

CHINA HEALTHCARE (17.5 cents) – Poised for breakout
- Appears poised for a breakout
- Resistance is at 17.5 cents
- Successful break indicates a target of 22 cents

HEALTHWAY GROUP (9.1 cents) – Weakest stock in sector
- Weakest of the healthcare stocks
- Support is at 9 cents
- Break below this level indicates a target of 4 cents

(Source: TheEdgeSingapore July 11, 2011)

S-chips remain under cloud of uncertainty

SUNVIC CHEMICAL (73 cents) – Uptrend approaches its end
- Resistance at 75 cents
- Support at 69 cents
- Break below 67 cents complete a top and indicate target of 50 cents

CHINA MINZHONG ($1.50) – Struggling to regain moving average
- Support is at $1.38
- Prices are still in corrective/downward phase

CHINA DIARY (eight cents) – Attempting to recover
- Major resistance is at 9 cents
- Break above this level is bullish

CHINA ANIMAL HEALTHCARE (27.5 cents) – Base formation
- Neckline at the top of the double bottom is at 29 cents
- Break above 29 cents indicate a target of 36 cents
- Support is at 26 cents

CHINA XLX FERTILISER (37.5 cents) – Losing momentum
- Resistance is at 39 cents
- Support is at 27 cents
- Breakdown indicates a target of 20 cents

SINA GRANDNESS (48.5 cents) – Likely to ease
- Break below 47 cents indicates a target of 35 cents
- Resistance is at 50 cents

(Source: TheEdgeSingapore July 4 2011)

REITs can't swim against the tide

ASCENDAS REIT ($2) – Testing support
- Prices are likely to move sideways and at worst they could fall
- Support is near $2
- Resistance is at $2.07
- An eventual breakdown indicates a target of $1.75

CDL HOSPITALITY TRUSTS ($2.04) – Testing resistance
- Showing signs of technical weakness
- Low ADX suggests that even if prices breakdown it is likely to be a weak one
- Break below $2.04 indicates a target of $1.91

PARKWAY LIFE REIT ($1.81) – Losing momentum
- Support is at $1.77. Break below this level points to target of $1.66
- Resistance is at current levels

CACHE LOGISTICS TRUST (95.5 cents) – Testing top of base formation
- Prices are at resistance at 96 cents
- Support is at 94 cents
- Break above resistance indicates at target of $1.01

FIRST REIT (78 cents) – Uptrend intact
- Support is at 76 cents
- Resistance is at 80 cents
- Successful break indicates a target of 90 cents

MAPLETREE LOGISTICS TRUST (91 cents) – Likely to ease
- Resistance is at current levels
- Support is at 84 cents
- Break below support indicates at target of 72 cents

(Source: TheEdgeSingapore June 13 2011)

Property stocks below NAV

HO BEE INVESTMENTS ($1.44) – Undervalued?
- Prices are hanging to support
- ADX indicator suggests that prices should rise from here
- Other technical indicators are not so clear cut

SC GLOBAL DEVELOPMENTS ($1.38) – Downdraft
- This counter had a dramatic price decline on May 31 to close at 91 cents
- Volume surge on the down move indicating institutional selling
- Support is at $1.30

UOL GROUP ($4.94) – Testing resistance
- Prices may stage a temporary retreat
- Support is at $4.80
- Resistance is at $5.05. A break indicates a target of $5.40

SINGAPORE LAND ($7.09) – Halting up-move
- Prices are on a recovery path
- Resistance is at $7.19
- Break above $7.19 would indicate a target of $8.10
- Support is at $7

WHEELOCK PROPERTIES ($1.88) – At top of base
- Resistance at $1.88 to $1.90 area
- Successful break indicates a target of $2.10
- Support is at $1.80

WING TAI HOLDINGS ($1.57) – Strengthing
- Break above $1.57 indicates a target of $1.78
- There is some resistance at $1.64

(Source: TheEdgeSingapore June 6 2011)

Indonesian plays race ahead

GALLANT VENTURES (42 cents) – Poised for breakdown
- Technically there is no real genuine buying of this stock
- Support is at 42.5 cents
- Breakdown points to target of 33 cents
- Resistance is at 45 cents

RAMBA ENERGY (62 cents) – Hope springs eternal
- This is one of the strongest among Indonesia related plays
- Prices are breaking above resistance at 62 cents
- Successful break indicates a target of 70 cents

LIPPO MAPLETREE INDONESIAN RETAIL TRUST (52 cents) – Attempting recovery
- This counter has outperformed FTSE REIT Index
- Prices are currently at support level
- Stock is likely to be range-bound
- Resistance is at 57 cents

SEROJA INVESTMENTS (26.5 cents) – Forming base
- Indicates are lackluster
- If prices hold above 26 cents and able to move above the 50 day moving average that could mean a test of 31 cents

WILMAR INTERNATIONAL ($5.09) – Triple bottom?
- Prices remain in a downtrend
- Prices have been able to find support at $5
- Price is near support with not much downside
- Resistance is at $5.45

FIRST REIT (74.5 cents) – Attempting breakout
- Probably the strongest Indonesian play and REIT
- Prices are approaching resistance at 76 cents
- A successful break indicates a target of 90 cents
- Support is at 73 cents

(Source: TheEdgeSingapore May 16 2011)

S-chips sink

MIDAS HOLDINGS (69.5 cents) – Oversold pressures build
- In the short term prices could actually rebound
- Resistance is at 76 to 77 cents
- Support is at 70 cents. If prices break below 70 cents on expansion of volume, a new downside target of 55 cents would be indicated

SOUND GLOBAL (72.5 cents) – Set to move lower
- Quarterly momentum is turning down
- Prices are set to fall to form a downtrend
- Breakdown level is 72 cents and downside is at 60 cents

CHINA AVIATION OIL ($1.29) – Breakdown
- Prices have fallen below 50 day moving average at $1.35
- Quarterly momentum has resumed its downtrend
- Support is at $1.25
- Break below support would provide a measuring objective of $1.10

SUNVIC CHEMICAL (78.5 cents) – Facing resistance
- Prices are on an uptrend
- Momentum is holding above its equilibrium line
- Support appears at 70 to 71 cents range
- Resistance is at 82 cents

CHINA ANIMAL HEALTHCARE (30 cents) – Set for decline
- Prices have just broken down psychological support at 30 cents
- An earlier break below head and shoulder formation indicated a target of 23 cents

CHINA XLX FERTILISER (43.5 cents) – Poised for breakdown
- Prices have fallen below 50 day moving average at 42.5 cents
- Quarterly momentum remains in negative territory
- Support is at 38 cents

(Source: TheEdgeSingapore May 9 2011)

Pressured plantation plays

WILMAR INTERNATIONAL ($5.27) – False break
- Breakout above $5.40 failed and prices drifted below moving average currently at $5.25
- Resistance is at $5.40
- Counters look like it is in a bottoming formation
- Support is at $5

GOLDEN AGRI-RESOURCES (69.5 cents) – Sideways range
- Prices are most likely to stay range-bound
- Prices could rebound temporarily
- Resistance is at 72 cents
- Support is at 65 cents

NOBLE GROUP ($2.24) – Set for breakdown
- Prices are hanging to support at $2.13 to $2.16
- Signs of selling are evident
- Resistance has been established at $2.25

INDOFOOD AGRI ($2.15) – At support
- Prices are near the bottom of sideways range at $2.10 to $2.14 area
- Resistance appears at $2.30 to $2.32
- Prices are likely to remain range bound in attempt to bottom

KENCANA AGRI (40.5 cents) – Poised for breakdown
- Prices appear poised for breakdown
- Support is at 40 cents
- Quarterly momentum is declining
- Break below support indicates target of 35 cents

OLAM INTERNATIONAL ($2.95) – Facing resistance
- Prices are near resistance level at $2.95
- Short term moves are likely to be downwards
- Initial support is at $2.50
- Proper recovery and uptrend could be some way off

(Source: TheEdgeSingapore April 25, 2011)

Transportation stocks mixed

SINGAPORE AIRLINES ($14.02) – Breaks above resistance
- Break above $13.79 indicates a target of $15.30
- 200 day moving average is at $15.04 which is likely to provide resistance

TIGER AIRWAYS ($1.51) – Breaks out of base
- Prices are attempting to strengthen
- Break above $1.49 indicates a target of $1.70
- Volume expansion is absent. If support at $1.49 holds, prices may attempt to strengthen

KEPPEL CORP ($12.50) – Overextended
- Consensus is bullish, a sign the stock is overbought
- Clear divergence between price and indicator.
- Support appears at $12 and $11.80

SIA ENGINEERING ($4.13) – Sideways range
- Prices are still within a trading range
- Immediate breakout would be difficult
- Break above $4.14 indicates a target of $4.30

NEPTUNE ORIENT LINES ($1.98) – Base formation
- Prices are still in a base formation
- To gain strength prices will need to break out of $2 on significant higher volume than the counter is experiencing now

SEMBCORP MARINE ($5.85) – Correcting overbought readings
- Quarterly momentum has weakened
- Sharp up move appears to have run into resistance at $6
- Support is at $5.54

(Source: TheEdgeSingapore April 18, 2011)

Property stocks recover

CITY DEVELOPMENTS ($11.64) – Not a convincing formation
- Prices are attempting to form a reverse head and shoulder pattern
- There is insufficient volume to support a breakout
- Resistance at $11.96
- Support is at $11.20

CAPITALAND ($3.41) – Reverse head and shoulder
- Counter displays an almost textbook reverse head and shoulder formation
- Breakout took place at the neckline at $3.38
- A successful break indicates an initial target of $3.90

CAPITAMALLS ASIA ($1.86) – Breaks out of base
- Stock attempted to form a reverse head and shoulder pattern
- There was a simultaneous break above $1.80
- Breakout indicates an initial target of $2.04
- Occasion for some strength may be at hand

KEPPEL LAND ($4.53) – No follow-through
- Prices managed to rebound from a low of $4.01
- Immediate support is at $4.33

UOL GROUP ($4.89) – Facing resistance
- Upside is likely to be limited
- Resistance is at $5.05 to $5.06 range
- Better entry point is at the support of $4.70

YANLORD LAND GROUP ($1.63) – Attempting recovery
- Broke out of a minor double bottom formation at $1.50
- Support is at $1.50
- Counter has gained relative strength against the sector and market despite being an S-chip

(Source: TheEdgeSingapore April 11 2011)

Blue chips attempt to bottom

DBS GROUP HOLDINGS ($14.24) – Rebounds off support
- Resistance is at $14.50
- Strong trend is unlikely
- Based on current technical evidence, a break above $14.50 is unlikely

OVERSEA-CHINESE BANKING CORP ($9.30) – Develops downtrend
- Prices broke below the double top at $9.42 indicating a downside objective of $8.50
- There is a temporary rebound in force
- Resistance appears at $9.42 to $9.50 range

UNITED OVERSEAS BANK ($18.54) – No clear trend
- The post-tsunami decline halted at $18 establishing a level of support
- Resistance is at $18.90 to $19
- There is a chance of rebound by prices to the resistance level

SINGAPORE EXCHANGE ($7.75) – Approaching resistance
- Significant resistance appears at $8
- ADX is turning down indicating the start of a ranging phase
- Counter is set to ease and support has been established at $7.27

WILMAR INTERNATIONAL ($5.30) – Finding a bottom
- Downtrend may have found a temporary floor at the $5 level
- Prices are likely to move within a sideway range
- Resistance has been established at $5.40

SINGAPORE TELECOMMUNICATIONS ($2.92) – Resistance at hand
- For the past year, this counter has been ranging sideways
- Support has been established at $2.85
- Prices are likely to ease towards support soon

(Source: TheEdgeSingapore March 28 2011)

Resistances at hand

CREATIVE TECHNOLOGY ($4.03) – Light at the end of the tunnel
- Rebounded off a post financial crisis low of $3.25
- Resistance at $4.05
- Support for any retreat should be $3.88
- Break above $4.05 indicates a target of $5.20

PORTEK (56 cents) – Attempting breakout
- Counter has greater strength than the market and STI
- Prices are at resistance level
- Momentum is gradually rising
- Breakout above 56 cents would indicate a target of 66 cents

KEPPEL CORP ($11.82) – Building a top
- Resistance has been established at $11.96
- Chart pattern suggests that prices are building a top
- Support appears at $11.20

SEMBCORP MARINE ($5.76) – Short term overstretched
- One of the strongest stocks around
- Prices have broken out of resistance at $5.45 indicating a target of $5.90
- Support is at $5.45

COSCO CORP ($1.99) – Developing a downtrend
- This is the weakest of the rig-building stocks
- Prices have broken neckline of a top formation at $2.17, indicating a target of $1.80

FRASER & NEAVE ($5.85) – Temporary rebound
- Prices are attempting a rebound
- Current move is likely a temporary rally in a downtrend
- Resistance is at $6
- Eventual target from the breakdown is around $5.20

(Source: TheEdgeSingapore March 14 2011)

Temporary reprieve

CITY DEVELOPTMENTS ($11.42) – Rebound in a downtrend
- Rebound is under way
- Resistance at current levels
- $10.50 could be retested

GENTING SINGAPORE ($1.95) – Breaks double top
- Temporary rebound is underway
- Prices have just broken a double top indicating target of $1.50
- Quarterly momentum is turning negative

JARDINE C&C ($34.28) – Temporary rebound
- Short term moves are upwards
- Volume of the rebound has been light suggesting move is probably a countertrend move
- Support is at $31

SINGAPORE AIRLINES ($13.44) – Short term oversold
- Trend remains downwards
- Resistance is at $14 mark

SINGAPORE TELECOM ($2.90) – Temporary bounce likely
- Prices are now at the bottom of trading range
- This may cause a temporary rebound
- Resistance is at $3.04
- Support is at $2.86

WILMAR INTERNATIONAL ($5.16) – Temporary rebound
- Counter has been in a downtrend
- Resistance appears at $5.30
- Eventually prices are likely to break below $5 and would indicate a new objective of $4.60

(Source: TheEdgeSingapore March 7 2011)

Developing downtrends

BOUSTEAD (93.5 cents) – Breaks double top
- Break below $1 indicates an initial target of 80 cents
- Small hammer could indicate a brief bounce
- Resistance is at 97.5 cents

ROTARY ENGINEERING (89.5 cents) – Start of a downtrend
- Break below 95 cents indicates a target of 80 cents
- Resistance is at 91 cents in the event of a temporary bounce

HYFLUX ($1.99) – Latent selling
- Prices may experience a short bounce, at which point further selling could appear
- Break below $2.10 indicates an initial target of $1.70

CSE GLOBAL ($1.16) – Breaks double top
- Prices have just broken a double top indicating a target of $1
- A rebound in reaction to small hammer is likely to be temporary
- Resistance is at $1.20

KEPPEL LAND ($4.11) – Developing a downtrend
- Prices have broke below 200 day moving average of $4.22
- Early break below $4.50 indicated a target of $4
- Break below $4.10 is likely to indicate a target of $3.55

SOUND GLOBAL (64.5 cents) – Temporary bounce; downtrend established
- Hammer found on 23 Feb is likely to provide a brief respite from decline
- Rebound is likely to be temporary
- Initial support is at 57.5 cents

(Source: TheEdgeSingapore February 28 2011)

Tide recedes for offshore stocks

KEPPEL CORP ($11.78) – Starts sideways trend
- Prices managed to rebound off support at $11.28
- Resistance is at $11.90 to $12 range
- Prices are likely to trade within a range

SEMBCORP MARINE ($5.32) – Forming top
- It has managed to rebound off support at $5.05
- Volume has not surged with Feb 17’s upmove
- It may well be that the largest gains are over
- Breakdown level is at $5.05

COSCO CORP ($2.12) – Breaks support
- Prices could be building a top
- Counter could be embarking on a downtrend
- Support is at $2.08 and $1.80

ASL MARINE (67.5 cents) – Rough landing
- Prices have fallen below support at 70 cents
- Prices will likely remain rangebound
- Support is at 67 cents

OTTO MARINE (31.5 cents) – Clear downtrend
- Prices are in an established downtrend
- Prices could break below support at 32 cents
- Breakdown would indicate a downside objective of 26 cents
- Resistance is at 34 cents

JAYA HOLDINGS (56.5 cents) – Turning submariner
- Indicates are at heavily oversold levels
- Any rebound will likely be temporary
- Resistance is at 65.5 cents
- Trend is likely to be broadly downwards
- Support is at 32.5 cents

(Source: TheEdgeSingapore February 21 2011)

Increasingly Oversold

KEPPEL LAND ($4.12) – Breaks top
- Price broke below neck line at $4.50
- Breakdown indicates initial and eventual targets of $4 and $3.60
- Any rebound likely to find resistance at $4.50

CITY DEVELOPMENTS ($11) – Still falling
- Earlier break below $12.20 indicated a target of $10.50
- Prices may not have hit bottom yet

CAPITALAND ($4.39) – Breaks support
- Prices are near support
- Quarterly momentum remains negative
- Break below $3.50 indicates a target of $3.10

SINGAPORE AIRLINES ($14.12) – Rough landing
- Break below $15 indicates a target of $13.90
- Any rebound is likely to be temporary with resistance at $14.60

GENTING SINGPORE ($2.02) – Holding on
- Quarterly momentum has moved to negative territory
- Support is at $2
- Resistance at $2.13
- Break below $2 indicates a target of $1.80

INNOTEK (61 cents) – Gaining strength
- Break above 60 cents indicates a target of 72 cents
- Stop loss is at 60 cents

(Source: TheEdgeSingapore February 14 2011)

Ten Stocks For 2011

This is the stock recommendation from the editors of TheEdge Singapore.

1. China Animal Healthcare

2. Hong Leong Asia

3. Lizhong Wheel Group

4. Noble Group

5. Overseas Union Enterprise

6. Raffles Medical Group

7. SC Global Developments

8. Singapore Exchange

9. Sino Grandness Food Industry Group

10. United Overseas Bank

Good luck to everyone in the year of the Rabbit. 恭喜发财，万事如意

Bruised blues

KEPPEL CORP ($12.20) – False dawn
- Appearance of shooting star
- Uptrend may continue but danger point is at $11.56
- Resistance is at $12.46

JARDINE C&C ($35.32) – Testing support
- Prices are forming a downtrend
- Resistance is at $36
- Break below $34.30 reiterates the downtrend
- Downside target is at $30

JARDINE MATHESON (US$45.40) – Building a top
- Prices are still forming a top
- Prices are a shade below the 50 and 100 day moving average
- These levels represent resistance/breakout level

WILMAR INTERNATIONAL ($5.37) – Downtrend
- Prices broke below support setting a downside of $5.20 and $5
- By the time prices reach $5.20 short term indicators should be heavily oversold
- Trend is down and resistance is at $5.70

DBS GROUP HOLDINGS ($15.08) – Breaking out
- Price has broken resistance at $14.90
- Break above $14.90 indicates a target of $16
- To attain this, prices must not sink back under $14.90

UOB GROUP ($19.86) – Gaining strength
- Prices should trend up
- Initial resistance is at $20.65 but eventual target should be higher
- Support is at $19.65

(Source: TheEdgeSingapore January 31 2011)

Properties lead the way

CITY DEVELOPMENTS ($11.72) – Breaks down
- Prices fell below 50 day and 200 day moving averages
- Support is at $12
- Breaks below $12.50 indicates target of $11.30
- Break above $12.50 would negate the negative outlook

WHEELOCK PROPERTIES ($1.93) – Building a base
- This counter has drifted sideways or slightly lower
- It is holding at its 100 day moving average and above its 200 day moving average
- Prices are likely to build a base between $1.89 and $1.93

CAPITALAND ($3.68) – Resumes retreat
- Largely underperformed the market and sector
- Near term resistance appears at $3.87
- Support is at $3.60

UOL GROUP ($4.93) – Short pause
- This is the strongest stock in the property sector
- Resistance appears at $5.40
- Initial support is at $5 and $4.71

KEPPEL LAND ($4.52) – Building a top
- The best gains appear to be over
- Prices are now below an upward sloping neckline
- Breakdown indicates a target of $4
- Resistance is at $4.73

ALLGREEN PROPERTIES ($1.13) – Also breaks down
- Prices fell below 50 and 100 day moving averages
- Indicates selling pressure and a possible downtrend
- Breakdown indicates a target of $1.03
- Prices would need to regain $1.16 to negate the negative outlook

(Source: TheEdgeSingapore January 24 2011)

Late-cycle plays

GUTHRIE GTS (53 cents) – Breaks out
- Biggest part of the upmove is over for the time being
- Support is at 51 cents
- Break below support would imply a decline to 46 cents

GALLANT VENTURES (48 cents) – Typical end of cycle play
- Trend remains up stop loss level at 46 cents
- Break below would end the uptrend
- Resistance is at 51 cents

LUM CHANG HOLDINGS (31 cents) – Meeting point for technicals, fundamentals
- Prices are attempting to break 31 cents
- Successful break would indicate a target of 36 cents
- Prices should be able to break out successfully

HOCK LIAN SENG HOLDINGS (32 cents) – Poised for breakout
- Prices are approaching resistance at 32 cents
- Prices should break out
- Successful break indicates a target of 37 cents
- Support is at 30.5 cents

TTJ HOLDINGS (19.5 cents) – Challenging resistance
- Prices are testing a downtrend line at 19.5 cents
- Successful break would indicate a target of 24 cents

LEE KIM TAH HOLDINGS (59 cents) – Short pause
- Support appears at 57.5 cents
- The 2007 high of 62 cents is likely to provide much resistance
- It would be a difficult task to breakout

(Source: TheEdgeSingapore January 17 2011)

Rising tide lifts some boats

NEPTUNE ORIENT LINES ($2.38) – Breaks out
- Testing its year high at current levels
- Break above $2.36 looks imminent. Resistance appears at $2.80
- Support is at $2.20

PACIFIC SHIPPING TRUST (38 US cents) – Strong uptrend
- There are no signs of a breakdown yet. Prices could advance further
- Stop loss is at 36 cents
- Resistance could appear at 45 cents

FSL TRUST (47.5 cents) – Testing top of base
- Prices are testing resistance at 48 cents
- A move above 48 cents indicates target of 56 cents and 62 cents

SINGAPORE SHIPPING (25.5 cents) – Downtrend persists
- Resistance/breakout of the downtrend is at 26.5 cents
- Support appears at 24 cents

SAMUDERA SHIPPING LINE (24.5 cents) – Challenging resistance
- Prices are testing resistance at 25 cents
- Break above 25 cents indicates a target of 31 cents
- Support is at 23 cents

RICKMERS MARITIME TRUST (41 cents) – Into the light
- Resistance is at 40 cents
- Support is at 37 cents
- Successful break above 40 cents gives an initial target of 65 cents

(Source: TheEdgeSingapore January 10, 2011)