Yield plays retain value

M1 ($2.41) – Entrenched sideways
- Support is at $2.35
- Prices could well remain within narrow range
- Resistance at $2.46

SBS TRANSIT (($1.70) – Continues to trend down
- Support is at $1.65
- Resistance is at $1.735
- Prices are unlikely to make much headway in the near term

SINGAPORE TELECOMMUNICATIONS ($3.10) – Greater relative strength
- This counter has greater relative strength
- Prices may not break above resistance at $3.27
- Support at $3.04

SINGAPORE PRESS HOLDINGS ($3.63) – At support
- There is ample support at $3.60
- Any recovery is likely to be slow
- Resistance at $3.79

ST ENGINEERING ($2.63) – Poised for breakdown
- Prices are at support at $2.65
- Break below $2.65 would indicate a target of $2.25
- Indicators support breakdown scenario

STARHUB ($2.89) – Sideways trend
- Probably the strongest of the telcos at present
- Support is at $2.85
- Prices are not likely to break above resistance at $2.92

(Source: TheEdgeSingapore December 19, 2011)

Property stocks continue to drift

CITY DEVELOPMENTS ($9.18) – Retreat in force
- Quarterly momentum is starting to retreat
- Trying to form a base but selling pressure appears every time
- Support is at $9

CAPITALAND ($2.42) – Still moving sideways
- Appeared closest to breaking out within the sector
- Quarterly momentum is turning down
- Sideway trend likely to persist
- Support is at $2.35

KEPPEL LAND ($2.42) – Resumes retreat
- Downtrend is still in force
- One of the weakest counter in the sector
- Prices are likely to fall and eventually break below $2.30

UOL GROUP ($3.97) – Weakening against sector
- Oct 4 low was at $3.80
- Price below this level points to objective of below $3

HO BEE INVESTMENTS ($1.14) – Continues to trend down
- Set to continue downtrend
- Support at $1.18 was broken indicating a move towards 90 cents

WING TAI HOLDINGS ($1) – No let-up in downtrend
- Prices broke several times tested $1.05 level
- Downtrend likely to persist
- Break below $1.05 indicates an objective of 75 cents

(Source: TheEdgeSingapore December 12, 2011)

Against the trend

GOLDEN ARGI-RESOURCES (71.5 cents) – Stronger than the market
- Counter has gained relative strength against the market
- Breakout level is at 68 cents
- Break above 68 cents indicates a target of 81 cents
- Move below 67 cents invalidates upmove

INDOFOOD AGRI RESOURCES ($1.32) – Gains strength
- Prices appear to be struggling
- Move above $1.30 on high volume is needed for upside breakout
- Support is at $1.25

KENCANA AGRI (34 cents) – Short-term sideways
- Quarterly momentum has started to rise
- Breakout level is at 35 cents
- Support is at 32 cents

WILMAR INTERNATIONAL ($5.16) – Possible breakdown
- Support is at $5 and a breakdown would lead to retest of $4.38
- Move above 50 and 100 day moving averages invalidate the breakdown scenario

OLAM INTERNATIONAL ($2.36) – Rebounds off support
- Prices found support at $2.20
- Resistance is at $2.40
- Break below support gives a target of $1.80

NOBLE GROUP ($1.20) – Rebound temporary, downtrend to resume
- Counter remains weak
- There is some support at $1
- Resistance is at $1.18

(Source: TheEdgeSingapore December 5, 2011)