Reverse head-and-shoulders updates

HI-P INTERNATIONAL (67.5 cents) – Recovery to continue
- ADX is rising against positively placed DIs
- Support is at 65 cents
- Break above 72 cents indicates a target of 84 cents

KEPPEL CORP ($9.13) – Reversal still in progress
- The reverse head and shoulder is on-going
- Support is at $8.90
- Resistance/breakout is at $9.40
- Successful break indicates at target of $11.50

SEMBCORP INDUSTRIES ($4.20) – Ongoing right shoulder
- Prices are still in the process of forming the right shoulder
- Resistance is at $4.35
- Support is at $3.96 to $3.99 level

SEMBCORP MARINE ($3.96) – Reversal could fail
- Reverse head and shoulder formation is in danger of failing
- Support is at $3.77 level
- Resistance is at $4.30

YANLORD LAND GROUP ($1.19) – Lopsided reversal
- Broke out of a lopsided reversal at $1 and continued to rise
- If prices can hold above $1 on the retreat, the recovery is intact
- This stock carries high risk and its debt has been recently downgraded

YING LI INTERNATIONAL REAL ESTATE (27.5 cents) – Drawn-out base formation
- Reverse head and shoulders pattern is still ongoing
- Support is at 25 cents
- Break above 30 cents would indicate a target of 45 cents

(Source: TheEdgeSingapore November 21, 2011)