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)