Offshore stocks poised for breakouts

SWIBER HOLDINGS (68.5 cents) – Breaks out
- Prices have just broken out of resistance
- Volume surged on break
- Support is raised to 66 cents
- Immediate resistance is at 72 cents

MERMAID MARITIME (39 cents) – Poised for breakout
- Prices have cleared resistance at 40 cents
- Volume expanded but not spectacularly
- Break above 40 cents points to target of 50 cents

NAM CHEONG (26.5 cents) – Poised for breakout
- Prices are facing resistance at 27 cents
- Quarterly momentum has broken out of its own resistance
- Successful break would indicate target of 36 cents

SEMBCORP MARINE ($4.48) – Breaks above minor base
- Prices have broken above neckline at $4.40
- Quarterly momentum is in recovery mode
- Next resistance is at $4.50
- Break would provide impetus for move to $5
- Support is at $4.40

KEPPEL CORP ($10.85) – Resistance appears at top of base
- Current moves appear to be part of a broader base formation
- Prices may ease marginally to form the right shoulder
- Support is at $10.70

SEMBCORP INDUSTRIES ($5.02) – Testing top of base formation
- Prices appear to be forming a small reverse head and shoulder base
- Neckline is at $5.05
- Successful break would indicate a target of $5.45 to $5.55
- Near term range is likely to be narrow
- Support is at $4.90

(Source:  TheEdgeSingapore May 20 2013)