Tech stocks remain resilient

BROADWAY INDUSTRIAL GROUP (34 cents) – Breakout fails
- Prices have moved below 34.5 cents
- Support is at 32 cents
- 50 and 100 day moving averages are poised for positive cross and should limit retreat

STATS CHIPPAC (45.5 cents) – Temporary retreat
- Prices retreated following test of 53 cents
- Support is at 44 to 45 cent range
- Uptrend is intact
- Break above 44 cents indicates target of 60 cents

UMS HOLDINGS (46 cents) – Set for rebound
- Technical indicators are strengthening
- Support is at 45 cents
- Resistance is at 49 cents

AMTEK ENGINEERING (58 cents) – Facing resistance
- Declining 200 day moving average is providing resistance
- Prices moved above resistance level at 55 to 56 cents setting a target of 63 cents
- Support is at 53.5 cents

INNOTEK (37 cents) – Continues consolidation
- Resistance is at 37 to 38 cent area
- 50 and 100 day moving averages have made a positive cross
- Support is at 35 cents

ASTI HOLDINGS (8.2 cents) – Temporary retreat
- Prices have moved above 8 cent mark on relatively high volume
- Earlier break above 7.3 cents indicated target of 9 cents
- Downside is likely to be limited
- Support raised to 8 cents

(Source:  TheEdgeSingapore February 11 2013)