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)