Tide turns for yards

YANGZIJIANG SHIPBUILDING (92.5 cents) - Challenging resistance
- Prices have broken out of base formation at 87 cents
- Break above the top indicates target of $1
- Support is at 92 cents
- Upmove was probably triggered by counter's dual listing in RMB

COSCO CORP (76.5 cents) - Breaks above minor resistance
- Technicals are improving
- Quarterly momentum has bottomed and is turning up
- These factors should support a price breakout
- Successful break indicates target of 86 cents

NAM CHEONG (27.5 cents) - Challenging 12-month high
- Rising quarterly momentum is hinting at strength
- Momentum looks set to strengthen further and could provide impetus for prices to break above 29 cents
- Break indicates upside of 34 cents

JES INT'L (14.6 cents) - Poised to break above minor resistance
- Prices have managed to hold above 50 day moving average
- If prices manage to hold above this level this week, they are likely to move higher
- Next resistance is at 16 cents

SEMBCORP MARINE ($4.49) - Forming a base
- Quarterly momentum has risen above its equilibrium line and continues to strengthen
- Prices have risen above its 200 day moving average
- Successful break above $4.55 indicates target of $4.90

KEPPEL CORP ($10.55) - Short-term weakness
- Technically this counter is probably weaker than other yards
- Quarterly momentum appears poised for  a retreat
- Prices will probably ease towards the low end of the range at $10.40

(Source:  TheEdgeSingapore July 29, 2013)