Coal Play

AUSGROUP (41.5 cents) – Poised for upmove
- Although price ease, the up momentum may well return
- Support is at 38 cents
- Break above 40 cents would give a measuring objective of 50 cents

NAM CHEONG (21 cents) – At the start of an upward acceleration
- Prices could be at the start of an accelerated upmove
- Price broke above twice tested resistance at 20.5 cents
- Break could indicate a target of 30 cents
- Support is at 20 cents

PSL HOLDINGS (40.5 cents) – Breaks out of resistance
- Sign that a correction/consolidation is underway
- Key level to watch is at 37 cents
- Sustained breakout above 37 cents would indicate upside potential of 46 cents

ASL MARINE (58 cents) – Set for rebound
- ADX indicates that prices could well rally
- Support is at 55 cents
- Resistance is at 61 cents
- Breakout would indicate an upside of 67 cents

INTERRA RESOURCES (49.5 cents) – Overextended
- Prices are overextended and appear poised for a pullback
- Initial support is at 35 cents

MANHATTAN RESOURCES (84.5 cents) – Base formation
- Prices are in bottom formation
- Prices have an opportunity to move up to 92 cents
- Support is at 84 cents

(Source: TheEdgeSingapore April 16, 2012)