- Prices have almost halved from peak in January
- It appears that worst of decline is over
- Initial resistance is at 95 cents
- Support is at 85 cents
HIAP TONG CORP (19.8 cents) - Forming a base
- Prices are in the early stages of a bottom
- Successful test of 17.5 to 18 cent level would confirm a base
- Initial resistance is at 22 cents
YONGNAM HOLDINGS (30 cents) - Temporary retreat
- Recovery from 23 cents was swift
- Prices are set for retreat
- Prices have met resistance at 31 cents
- Support is at 28 cents
SIN HENG HEAVY MACHINERY (22.5 cents) - Testing top of base
- Counter has had a less drastic price decline
- Prices are meeting with resistance at 22.5 to 23 cent level
- Eventual breakout should materialise with target of 27 cents
- Support is at 21 cents
TIONG WOON CORP (35.5 cents) - Challenging resistance
- Counter is still part of the way through declining trend
- Fall was stopped at support at 33 cents
- In order to breakout volume needs to rise
- In absence of volume expansion prices could ease towards 33 cents
TIONG SENG HOLDINGS (25 cents) - Decline to continue
- Decline has yet to run its course
- Prices have just fallen below 50 and 200 day moving averages
- Earlier break indicates target of 20 cents which is likely to be attained
- Volume has shrunk considerably
(Source: TheEdgeSingapore September 23 2013)
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