Under pressure

DBS GROUP HOLDINGS ($12.06) – Breaks below moving average
- Black candle on the breakdown is accompanied by increase in volume
- Support is at $10.87
- Uptrend for this counter could come to an end if prices break below $12.10

OVERSEA-CHINESE BANKING CORP ($7.88) – Resumes decline
- Temporary rebound appears to be over
- ADX has turned up and DIs have turned negative
- Support is at $7.68

UNITED OVERSEAS BANK ($14.95) – Retest of November low
- Prices are in sharp downmove and are likely to move lower
- Prices have fallen below psychological $15 level

FRASER AND NEAVE ($6.19) – Gains relative strength
- This counter remains one of the strongest stocks in the market
- Support is at $5.90 to $6 range
- Resistance is at $6.30 mark
- Successful breakout would indicate a target of $7.30

JARDINE CYCLE & CARRIAGE ($45.20) – Rebounds off support
- Uptrend appears to be still intact
- Prices are testing 50 day moving average at current levels of $44.10
- Resistance is at $48.80 to $49

JARDINE MATHESON (US$49.15) – Support at hand
- Prices are testing support at around US$48
- Price upmove are likely to be capped at $53.50
- Breakout would give a new upside objective

(Source: TheEdgeSingapore November 28 2011)