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)
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