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)