High tide for offshore plays

KEPPEL CORP ($10.49) – Temporary correction
- Uptrend remains intact
- Correction likely to be temporary
- Support is at $10.20
- Prices broke $9.90 level indicating target of $13

SEMBCORP MARINE ($4.89) – Minor retreat likely
- Temporary correction on the cards
- Corrective phase unlikely to violate uptrend
- Support is at $4.60
- Breakout of reverse head and shoulder indicates a target of $5.80

SEMBCORP INDUSTRIES ($4.75) – Temporary retreat
- In the near term prices may ease
- Support appears at $4.60
- Breakout of head and shoulder base indicates a target of $5.50

DYNA-MAC HOLDINGS (51.5 cents) – Uptrend underway
- Break above 46 cents indicated a target of 57 cents
- Any retreat is likely to be temporary
- Support at 48 cents

STX OSV ($1.42) – Temporary pullback
- Temporary correction is underway
- Uptrend should remain intact
- Price broke $1.23 level indicating a target of $1.66
- Support is at $1.39

NEPTUNE ORIENT LINES ($1.44) – Going full steam ahead
- Break above $1.20 indicated a target of $1.38
- Next resistance is at $1.54
- Support is at $1.26

(Source: TheEdgeSingapore February 6 2012)