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)