Tide recedes temporarily for offshore plays

BH GLOBAL MARINE (19.5 cents) – At support
- Prices are at a support
- Resistance/breakout is at 22 cents
- Successful breakout gives target of 27 cents

EZION HOLDINGS (87.5 cents) – Short-term selling pressure
- A temporary correction is underway
- Support appears at 85 cents
- Breakout level is at 97 cents
- Successful breakout would indicate a new upside target

EZRA HOLDINGS ($1.19) – Temporary retreat
- Temporary correction is underway
- Support appears at $1.15
- Breakout level is at $1.33

JAYA HOLDINGS (57 cents) – Rebounds off support
- Prices have rebounded establishing support at 53 cents
- Prices should be able to challenge the twice tested 60 cent level
- Successful breakout gives a target of 69 cents

MERMAID MARITIME PUBLIC CO (32.5 cents) – Weaker than sector
- In terms of relative strength, this counter has been weaker that the sector
- Uptrend is being attempted by prices
- Prices should be able to form an uptrend if it can hold around 30 cents and remain above 50 and 200 day moving average

SWIBER HOLDINGS (69.5 cents) – Temporary correction
- Overbought readings have been corrected
- Quarterly momentum is still on uptrend
- Prices should remain above 65 cents
- Resistance/breakout level is at 77 cents

(Source: TheEdgeSingapore March 5 2012)