A mixed basket of blue chips

SINGAPORE TELECOMS ($3.20) – Sell-off

-         Decline on a surge in volume signals selling pressure

-         Prices had been in a long sideways range before breaking out in June

-         Likely to head towards support at $2.95 to $3 range

-         Resistance is at $3.30

STARHUB ($3.67) – Forming a top

-         Quarterly momentum collapsed and fell below support

-         Prices are set to follow

-         Breakdown level is at $3.50

-         A breakdown would indicate target of $3

ST ENGINEERING ($3.47) – Uptrend stays intact

-         Counter has maintained its uptrend

-         Resistance has been established at $3.56

-         Support is at $3.38

SEMBCORP INDUSTRIES ($5.70) – Sideways consolidation

-         Prices are beginning to range sideways

-         Support is at $5.40

-         Resistance is at $5.80

-         An earlier break above $5.40 indicates target of $6.30

SINGAPORE AIRLINES ($10.66) – Testing resistance

-         Directional movement indicators point to price moving sideways to lower

-         Immediate support stays at $10.55

DBS GROUP HOLDINGS ($14.37) – Testing support at neckline

-         Prices could be forming a top

-         Momentum trend is turning down

-         Resistance has been established at $14.70

(Source:  TheEdgeSingapore October 1 2012)

Hotel stocks testing highs

AMARA HOLDINGS (40 cents) – Breaks out of base

-         Quarterly momentum is beginning to rise

-         Indicators point to price rise

-         Breakout indicates initial and final target of 45 cents and 48 cents respectively

-         Support is at 39 cents

GUOCOLEISURE (60.5 cents) – Forming a base

-         Prices appear to be forming a major double-bottom

-         Breakout level is at 62 cents

-         In the short term prices may ease

-         Support is at 59 cents

BONVESTS ($1.035) – Poised for breakout

-         Prices appear poised to break out of minor resistance at $1.04

-         Quarterly momentum is only just picking up steam

-         Technical indicators pointing to further upside for the counter

CDL HOSPITALITY TRUSTS ($1.99) – Could ease

-         In short term, prices could experience a minor bounce with resistance at $2.05

-         Quarterly momentum is falling

-         It appears that the largest gains could be over for now

HOTEL PROPERTIES ($2.85) – Temporary retreat

-         Uptrend of the past three months may experience a temporary hiccup

-         Technical indicators suggest that correction is likely

-         Immediate support is at $2.80.  Next support is at $2.70

-         Resistance is at $2.94

OVERSEAS UNION ENTERPRISE ($2.84) – Poised for temporary retreat

-         Technically trend is still up

-         Accelerated move is likely to abate and correction is imminent

-         Support is at $2.70

(Source:  TheEdgeSingapore September 24 2012)

Offshore segment rides rising tide

EZION HOLDINGS ($1.26) – Overstretched

-         Prices have met and surpassed $1.25 target

-         No signs of a downturn

-         Support is at $1.08

EZRA HOLDINGS ($1.15) – Breaking out of a base

-         Prices have moved above twice tested $1.12 level

-         Target of breakout is $1.37

-         Volume and technical indicators suggest that breakout is good

-         Support is at $1.12

LOYZ ENERGY (49.5 cents) – Uptrend intact

-         Target of 55 cents was indicated following breakout

-         Temporary retreat could ensue

-         Support is at 49 cents

KREUZ (36 cents) – Breaks out of consolidation

-         Prices have just moved out of reversal pattern at 33 cents

-         Breakout indicates target of 43 cents

-         Any retreat finds support at 33 cents

ASL MARINE (62.5 cents) – Emerging from sideways range

-         Prices may attempt to test resistance at 62 cents

-         Successful breakout indicates target of 74 cents

-         Prices have a good chance of a breakout

NAM CHEONG (21.5 cents) – Breaks above resistance

-         Prices have just moved out of a tight sideways range

-         Earlier break indicates target of 23 cents which has not been met

-         Support is raised to 19.5 cents

(Source:  TheEdgeSingapore September 17 2012)

Fatigue sets in for blue chips

JARDINE MATHESON (US$54.29) – Intact for the time being

-         Managed to hold on to its greater relative strength

-         Prices remain above its 50, 100 and 200 day moving averages

-         Support/breakdown level is at US$53.50

-         Resistance is at US$55.20

JARDINE C&C ($46.19) – Breaking below support

-         Prices are sinking, testing the 200 day moving average

-         Signs that prices are set to move lower

-         Break below $46 indicates an objective of $42

FRASER & NEAVE ($8.25) – Forming a top

-         Prices have been stuck in a range

-         The uptrend of the quarterly momentum is intact

-         If prices test and break below $8.20 it would indicate a target of $7.60

SEMBCORP INDUSTRIES ($5.39) – Weakening chart pattern

-         Prices appear to be weakening

-         Volume has expanded on black candle days

-         Initial support line at $5.39

SEMBCORP MARINE ($4.93) – An easier phase ahead

-         Prices have broken below 50 day moving average

-         Prices need to move above $5 to regain their initiative

KEPPEL CORP ($10.99) – Could be forming a top

-         Prices could be forming a minor head and shoulder top

-         Move below $11 indicates an initial downside of $10.30

(Source:  TheEdgeSingapore September 10, 2012)