Blue chips in temporary rebound

DBS GROUP HOLDINGS ($13.89) - Temporary rebound

- Prices are hanging on

- Resistance at $14 to $14.20 level

- There has been some selling with volume expansion as prices drifted lower

CITY DEVELOPMENTS ($11.28) - Bounces off 200 day moving average

- Resistance is at $11.50

- Break below moving average would cause a simultaneous break below support at $11

- Support at $10.30 to $10.50 level should stop decline

KEPPEL CORP ($10.55) - Temporary rebound

- Temporary rebound is underway

- There is a target of $9.80 indicated from the break below double top in October

- Trend remains downwards

NOBLE GROUP ($1.075) - Momentary bounce possible

- In the process of a temporary bounce

- Resistance likely to appear at $1.10

- Break below $1 gives downside of around 75 cents

OLAM INTERNATIONAL ($1.685) - Downtrend to continue

- Temporary rebound is unlikely to be sustained

- Resistance is lowered to $1.80

- Some support at $1.61 which is unlikely to hold

- Downside target is $1.44

SEMPCORP MARINE ($4.38) - Temporary rebound underway

- Resistance appears at $4.50

- Initial downside target of $4.20 has been reached and breached

- If November low of $4.11 is broken it will cause a measured move to the downside

(Source:  TheEdgeSingapore November 26 2012)