Stocks at new one-year highs

LOW KENG HUAT (55.5 cents) – New 15 year high
- Prices are at new 15 year high
- Volume has surged with price
- Short term indicators are overbought
- Temporary retreat towards 54 cents should materialize

HO BEE INVESTMENT ($1.79) – Makes new one-year high
- Prices are at a new one-year high
- Counter could be a privatization candidate
- Prices are somewhat high and short term indicators are overbought

GUOCOLEISURE ($0.625) – Breaks out of base
- Prices have just broken out of neckline resistance
- Break looks good and indicates target of 72 cents
- Mooted as a privatization candidate

DEL MONTE PACIFIC (60 cents) – Forming a bull flag
- Temporary pause is underway
- Support should appear at 59 cents
- Current sideways move is likely to be brief and shallow

GUOCOLAND ($2.42) – Upclimb to resume
- Technically uptrend should continue
- Current sideways move appears to be a correction in an uptrend
- Break above $2.45 would lead to resumption in upclimb with objective of $2.65

CAPITALAND ($3.57) – Uptrend to continue
- Counter broke out of resistance at $3.50
- Quarterly momentum is positive
- Support appears at $3.50
- $4 is likely to provide formidable resistance

(Source: TheEdgeSingapore December 10 2012)

Commodity stocks remain weak

GOLDEN AGRI-RESOURCES (66.5 cents) – Start of base formation


- Temporary rebound is underway

- Chart pattern could start to resemble a base formation

- Support is at 60 cents


INDOFOOD AGRI ($1.25) – Finds support

- Prices found support at $1.19

- No signs of positive divergence

- Immediate resistance appears at $1.26


FIRST RESOURCES ($2.14) – Support holds

- Prices have bounced off $2 to $2.03 support

- Resistance is at $2.20

- Support at $2 to $2.03 could give way eventually

- Next support is at $1.90



NOBLE GROUP ($1.08) – Poised for breakdown

- Temporary rebound is probably over

- If thrice tested support area at $1.02 to $1.07 does not hold, downside target is 90 cents

- Break above $1.10 could negate the negative outlook



OLAM INTERNATIONAL ($1.56) – Relief rally

- Break below $1.61 indicates a downside of $1.44

- Resistance is a $1.61

- In the short term, oversold pressures should trigger another temporary rebound

- Eventually prices are likely to fall below $1.46



WILMAR INTERNATIONAL ($3.19) – Signs of bottoming

- Prices are attempting to establish a floor

- Attempting to move above 50 and 100 day moving averages

- Positive divergence between price and momentum since June

- Breakout is needed for divergence to confirm price upmove



(Source: TheEdgeSingapore December 3 2012)