Cyclicals break supports

KEPPEL CORP ($7.94) – Breaks support
- Prices broke below support at $8.40
- Breakdown indicates target of $7.30
- Resistance is at $8.40

NOBLE GROUP ($1.40) – No let up in decline
- Area around $1.30 is weak and is likely to be breached
- Breakdown indicates target of 96 cents
- Any rebound to be mild

SWIBER (50 cents) – Set for a break below 44 cents
- Support is at 44 cents and is set to be breached
- Breakdown indicates target of 30 cents

SEMBCORP MARINE ($3.35) – Breaks support
- Broke support at $3.60
- Measuring objective of $2.80
- Resistance is at $3.60

OLAM INTERNATIONAL ($2.33) – Better relative strength
- Quarterly momentum is in negative territory
- Support is at $2.05
- Resistance is at $2.45

YANGZIJIANG SHIPBUILDING (93 cents) – Poised for a break
- Prices are breaking support at 95 to 96 cent range
- Breakdown indicates a target of 75 cents
- Any rebound is likely to be mild

(Source: TheEdgeSingapore October 3 2011)