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)