Offshore plays await rising tide

SEMBCORP MARINE ($5.06) - Temporary consolidation

- Temporary retreat is underway

- If market remains resilient, prices should not fall below $5

- Break above $5.14 indicates an initial target of $5.40 to $5.50 with eventual upside of $6.20

SEMBCORP INDUSTRIES ($5.71) - Uptrend intact

- Temporary correction is underway

- Support appears at $5.40

- An earlier break above $5.40 indicated a target of $6.30

KEPPEL CORP ($11.58) - Uptrend continues

- Temporary consolidation is in force

- Prices may move within narrow range between $11.20 and $11.70

- Break above $11.20 indicates a target of $13

ASL MARINE (61 cents) - Could break out of consolidation

- Prices moved above resistance at 59.5 cents

- Next resistance is at 68.5 cents

- If quarterly momentum manages to break out counter could move out of its sideways trading range

SINGAPORE AIRLINES ($10.88) - Testing resistance

- Prices are likely to find it very difficult to break above resistance at $10.96 to $11 level

- A successful breakout would provide upside of $12

- Support is at $10.55

TIGER AIRWAYS (74 cents) - Facing resistance

- Quarterly momentum is in positive territory

- Resistance appears at 82 cents

- Support is at 73 cents

(Source:  TheEdgeSingapore August 27 2012)