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)