Property stocks stabilise

UOL GROUP ($6.94) – Testing a breakout level

-         Prices gained strength by moving above moving averages

-         Volume is expanding on white candle days

-         Resistance is at $6.98

-         Successful break would indicate target of $6.70

HO BEE INVESTMENTS ($2.19) – Challenging resistance

-         Prices are attempting to reach and break 3 year high

-         Quarterly momentum is turning up

-         Underpinnings should be able to trigger a breakout

-         Support is at $2.15

SINGAPORE LAND ($9.15) – Challenging 12-month high

-         Prices appear locked in a narrow range

-         There are signs that price could stage a breakout soon

-         Successful break above $9.10 to $9.15 level indicates target of $10.70

-         Support is at $8.90 to $9

CAPITALAND ($3.27) – Testing neckline of base formation

-         Counter has broken above the neckline of reverse head and shoulders formation

-         Breakout indicates immediate upside of $3.60

-         Support is at breakout level of $3.20

KEPPEL LAND ($3.74) – Forming a base

-         Prices are at the top of minor base formation

-         Resistance/breakout is at $3.70

-         Successful break indicates target of $4.20 to $4.30

-         Support is at $3.60

CITY DEVELOPMENTS ($10.74) – Short term sideways

-         Short term moves are likely to be sideways

-         Quarterly momentum is weak

-         Resistance is at $10.80

-         Successful break would indicate an upside of $12

(Source – TheEdgeSingapore August 5 2013)