Oversold stocks await rebound

Keppel Corp ($9.36) - Finding support

- Counter is near, at the very least, an intermediate low

- New support is at $9.32

- Initial resistance is at $9.80

- Major support established in 2011 is at $8.60 to $8.65

Olam International ($2.09) - Downtrend to persist

- Earlier break below neckline formation indicated target of $2.08

- Temporary rebound is underway

- Downtrend has yet to run its course

- Prices are likely to move below October low of $2.03 towards $1.75

- Major support appears at $1.55

Golden Agri-Resources (51 cents) - Recovery underway

- Prices are in base formation

- Prices may have bottomed at 47 cents

- Break above 52 cents is needed to turn chart pattern more positive and this would indicate upside of 58 cents

Noble Group ($1.185) - Oversold pressures to trigger bounce

- Prices reached an intraday low of $1.12

- Hugh oversold pressures have built up which could trigger a bounce

- Resistance is at $1.25

- Downtrend has not run its course and may retest and break $1.12

Wilmar International ($3.18) - Attempting recovery

- Current moves are likely to be part of a broader base formation

- Immediate resistance appears at $3.18 to $3.20 range

- Breakout level for momentum is at its equilibrium line, which hasn't materialized yet

- When this occurs resistance is at $3.65 to $3.68 level

United Overseas Bank ($22.46) - Regains 200-day

- Prices have managed to regain 200 day moving average

- Prices have been on a downtrend since July

- Price resistance is at $22.54

- Breakout is required to provide upside which could be as high as $24

- Support is at 200 day moving average

(Source:  TheEdgeSingapore November 3 2014)