Index heavyweights push higer

HONGKONG LAND (US$5.28) – Developing an uptrend
- It has broken its 100 day moving averages and resistance levels
- As the uptrend develops, prices will be able to move well above US$6
- Support is at US$5.20 and US$4.94

DAIRY FARM (US$9.85) – Developing a gradual uptrend
- This counter is developing a gradual uptrend
- Breakout level is at US$10 and a successful break indicates a target of US$12.10
- Support is at US$9.50

JARDINE MATHESON (US$53.20) – Breakout at hand
- Prices are in good position to breakout
- Break above US$53 indicates an upside of US$61

JARDINE STRATEGIC (US$31.70) – Moves above resistance
- Prices are pushing ahead
- Resistance is at US$33
- Successful breakout indicates target of US$40

MANDARIN ORIENTAL (US$1.55) – Base formation
- Resistance/breakout is at US$1.60
- Break above US$1.60 indicates a target of US$1.90

JARDINE C&C ($50.14) – Peaking but uptrend intact
- Prices have been stuck at the US$49 to US$51 range
- Break above US$50 to US$51 would be positive. However indicators are not supporting this outcome

(Source: TheEdgeSingapore January 30 2012)