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