Property plays attract interest

SC GLOBAL DEVELOPMENTS ($1.15) – Approaching support
- Technically move below the support area at $1.19 to $1.21 is not positive
- Moving averages are positively placed
- Negative divergence between 21 day RSI and price suggests corrective phase is not over

WING TAI HOLDINGS ($1.68) – Temporary retreat
- Negative divergence between momentum and price is causing a correction
- Support is at $1.56
- Correction phase may have some way to go
- Uptrend is likely to stay intact

HO BEE INVESTMENTS ($1.445) – Sharp retreat
- Prices are correcting following negative divergence between momentum and price
- Support is approaching at $1.40
- Prices are currently at 40% discount to NAV

GUOCOLAND ($2.10)- Facing resistance
- A correction is imminent
- Quarterly momentum has broken a minor support
- Immediate support is at $2
- Pullback is likely to be temporary and part of a broader uptrend

GUOCOLEISURE (63.5 cents) – Testing support
- In the past two weeks, prices have retreated
- Moving averages would trigger a rebound
- Resistance is at 67 cents
- Upside is at 72 cents

CITY DEVELOPMENTS ($11.57) – Sideways range
- Clear negative divergence between momentum and price
- Momentum looks set to find support
- Resistance is at $12 level
- Support is at $11.20 level
- Prices may stay within a trading range

(Source:  TheEdgeSingapore October 15 2012)