Punters play tech stocks

AMTEK ENGINEERING (77 cents) – Breaks out of base
- Prices are testing 200 day moving average
- Broke above reverse head and shoulder pattern indicating target of $1
- Indicators suggest uptrend is developing
- Immediate support is at 73 cents

BROADWAY (38 cents) – Set for breakout
- Prices appear posed to break 200 day moving average
- Prices broke flat top base formation indicating target of 46 cents
- Support is at 35 cents

ASTI HOLDINGS (8.2 cents) – Temporary retreat
- Prices are overbought
- Any retreat should find support at 7.5 cents
- Resistance appears at 10 cents

FU YU CORP (8.4 cents) – Poised for breakout
- Quarterly momentum has broken out of resistance
- Breakout level is at 8.5 cents
- Successful break indicates target of 12 cents

STATS CHIPPAC (56.5 cents) – Breaks above 200 day
- Prices have just broken 200 day moving average
- Breakout indicates target of 75 cents
- The 50 and 100 day moving averages have just made golden cross

UMS HOLDINGS (49.5 cents) – Approaching resistance levels
- Leader among tech stocks
- Prices broke reverse head and shoulder formation in January indicating target of 65 cents
- Support is at 47.5 cents

(Source: TheEdgeSingapore Februray 13 2012)