Situational stocks overstretched

STATS CHIPAC (66 CENTS) - On the high side

- Prices are retesting their June high

- At 68.5 cents, prices have actually made a one year high

- Breakout indicates target of 80 cents

- Stop loss level is at 60 cents

UNITED ENGINEERS ($2.85) - Overextended

- Prices are extremely overextended

- Price support is at $2.66

- Move below $2.76 would result in short term traders exiting

- Resistance is at $2.87

HALCYON AGRI RESOURCES (85.5 cents)  - Attempting recovery

- May continue to be weighed down by selling pressure

- Prices have sufficient impetus to test 88 cents

- Support has been established at 81.8 cents

THAI BEVERAGE (68.5 cents) - Shooting star appears

- Uptrend remains in force

- There is a shooting star that formed on Aug 22. 

- Support is at 65 cents

GENTING SINGAPORE ($1.23) - Short-term engulfing

- Downtrend remains in force

- Resistance appears at $1.26

- Moving averages remain negative

SEMCORP INDUSTRIES ($5.13) - Should rebound off oversold low

- Prices are set to rebound but move is likely to be temporary

- Resistance appears at $5.20

- Eventually prices may fall below $5

(Source:  TheEdgeSingapore September 1 2014)