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)