- Negative divergence between quarterly momentum and price
- Quarterly momentum appears poised to break neckline
- If this materializes, prices are likely to break 50 day moving average and neckline
- Breakdown indicates a target of $1.26
BLUMONT GROUP ($2.02) – Poised for downturn
- Quarterly momentum has turned down
- Past three sessions of rising volume on black candle
- Resistance is at $2.50
- Breakdown level is at $2.30
- Breakdown indicates target of $1.65
ASIASONS CAPITAL ($2.70) – Top formation underway
- Short term indicators are more negatively placed then quarterly momentum
- Based on chart pattern, prices could be forming a double top
- Neckline is at $2.58 to $2.60 range
- Breakdown would indicate initial downside of $2.25
YANGZIJIANG SHIPBUILDING ($1.135) – Latent selling
- Higher volume sessions are accompanied by black candles
- Resistance is at $1.17
- Support is at $1.06
- Break below support indicates target of 96 cents
ALBEDO (4.9 cents) – Top formation
- Quarterly momentum has turned down and fallen below support level
- Prices could be forming an extended top
- Immediate support is at 5.2 cents
- Break below support indicate a downside of 2.5 cents
ROWSLEY (38 cents) – Short term overbought
- Prices are somewhat extended
- Resistance to an upmove appears at 40 cents
- Support is at 30.5 cents
(Source: TheEdgeSingapore, October 7 2013)
