Quality stocks stage tentative rebound

SEMBCORP MARINE ($3.67) - Facing resistance

-          Prices tested the declining 50 day moving average

-          Largest falls could be over but a sustained upmove is weeks if not months away

-          Prices are likely to move sideways

-          Support appears at $3.58

SIA ENGINEERING ($4.60) - Attempting base formation

-          Over medium to longer term, counter may be attempting to form a base formation

-          Neckline likely to be established at $4.65

-          Resistance is at $4.65

-          A breakout is unlikely

SIA ($9.70) - Temporary support established

-          Prices are attempting to hold at current level

-          Since RSI is at its low, downside is likely to be limited

-          Rebound is likely to be limited to $9.80

SATS ($3.03) - Challenging resistance

-          Prices may ease from its current level of $3.02 to $3.05

-          Support is at $3

-          Near term range is likely to be narrow

-          A recovery is unlikely

ST ENGINEERING ($3.63) - Meets resistance

-          A temporary rebound is underway with resistance at $3.65 to $3.68

-          Downtrend is still in force

-          Quarterly momentum has formed  a positive divergence and should eventually lead to a breakout

-          Prices would be able to move above the $3.65 to $3.68 range and test $3.75 level

-          Support is at $3.54

TIGER AIRWAYS HOLDINGS (27 cents) - Endless decline?

-          Prices are in accelerated downtrend

-          Theoretical ex-rights price is around 23 cents and prices may stop their decline only when this level is reached

(Source:  TheEdgeSingapore October 27 2014)

Blue-chip selloff to abate

KEPPEL CORP ($9.56) – Accelerated decline to abate

-         In terms of support, prices are currently testing the year’s low

-         Target of $9.80 was reached a few sessions ago

-         Oversold pressures that have built up should trigger rebound to $9.80

SINGAPORE TELECOMMUNICATIONS ($3.70) – Struggling to stay afloat

-         Prices are in the process of breaking below 200 day moving average

-         Break below $3.70 to $3.73 neckline indicates a target of $3.49

-         Temporary bounce of some 10 to 12 cents should materlialise

CITY DEVELOPMENTS ($9.24) – Oversold pressures limit downside

-         The year’s low is at $8.71 and decline should to able to stop ahead of this level

-         Short-term stochastics is attempting a rebound

-         Moving averages are declining and unlikely to turn up this year

NAM CHEONG (36.5 cents) – Poised to break 200-day

-         Prices appear poised to sustain a break below the 200 day moving average

-         Directional indicators also confirm the downtrend

-         Break below 42 cents indicated a target of 36 cents

-         Any rebound is likely to be temporary with resistance at 38.7 cents

DBS GROUP HOLDINGS ($17.75) – Breaks below 50-day

-         Prices broke support at $18.20

-         Major support appears at $16.80

-         Prices may find initial support at 100 day moving average at $17.54

-         When counter stages its initial rebound, resistance appears at $18.04

SEMBCORP INDUSTRIES ($4.82) – Temporary bounce, further falls ahead

-         Quarterly momentum is likely to continue making new lows for a few sessions

-         Break below neckline at $5.18 indicates a target of $4.18

-         Any rebound is probably temporary with resistance appearing at the breakdown level

(Source: TheEdgeSingapore October 20 2014)

Situational stocks turn down

STATS CHIPPAC (57.5 cents) - Breaks down

- Prices are building a top

- Objective indicated from breakdown is at 45 cents

UNITED ENGIEERS ($2.84) - Loses momentum

- Prices could be building a top if quarterly momentum falls below support

- Stop loss level is at $2.76

- Break below would indicate target of $2.40

- Resistance is at $2.90

SINGAPORE POST ($1.85) - Struggling to stay afloat

- Counter is seen as a proxy to Alibaba

- Breakdown level is at $1.75

- Resistance is at $1.87

THAI BEVERAGE (74.5 cents) - Holding on to uptrend

- Uptrend remains very much in force

- Price support is at 71.5 cents

- Resistance is at 76 cents.  Break above this level may be difficult at this stage

SINCAP GROUP (14.1 cents) - Breaks support

- Prices broke support on Oct 7

- Break indicates target of 13 cents

- Prices will need to consolidate around 13 cents and build a base before attempting recovery

ROWSLEY (17.4 cents) - Should rebound off oversold low

- Prices are at 18 month low

- Oversold pressures should trigger temporary rebound towards 20 cents

- Next stage of downdraft depends on whether rebound causes a bear flag.

(Source:  TheEdgeSingapore October 13 2014)

Commodity stocks selloff

NOBLE GROUP ($1.28) - Sharp selloff

-  On Sep 30, prices fell below dead cross

- Breakdown indicates target of $1.15

- Downtrend is likely to last for a few months

- Resistance is at $1.30

WILMAR INTERNATIONAL ($3.02) - Breaks support

- Relentless decline shows no sign of letting up

- Break below $3.14 indicates a target of $2.78

OLAM INTERNATIONAL($2.28) - Breaks neckline

- Quarterly momentum has been falling since March

- Price break indicates target of $2.08

- Resistance is at $2.38

MEWAH INTERNATINAL (38 cents) - Down to one-third of IPO price

- Recovery is unlikely in the near term

- Temporary bounce may materialize but a successful break above 50 day moving average is unlikely

- Beak below 37 cents would take prices to new low of 30 cents

FIRST RESOURCES ($1.98) - Testing crucial support

- Decline has decelerated sharply

- If quarterly momentum turns down again prices could break below $1.96 indicating target of $1.80

- Top of the sideway range is $2.07 providing ceiling for any rebound

GOLDEN AGRI-RESOURCES (50.5 cents) - Attempting base

- Prices are attempting to bottom

- Signs of breakout are absent, suggesting that base formation may continue

- Support has been established at 50 cents

- Break above 52 cents is needed to turn the chart pattern more positive but breakout appears remote in the near term.

(Source:  TheEdgeSingapore October 6 2014)