- Prices are testing lower boundary of sideways consolidation range
- Appear poised to break $3.58 level
- If it breaks $3.58, downside objective is at $3.30
- Largest declines are probably over
- Resistance is at $3.58
OLAM INTERNATIONAL ($2.41) - Upward push
- Staging a rebound on very low volume
- Resistance is at $2.40
- Breakdown level from the top formation at $2.44 provides next level of resistance
- Support is at $2.03
KEPPEL CORP ($9.30) - Receding down-momentum
- Downtrend is ongoing
- Largest price decline could be over
- Breakdown could materialize and area around $9 should halt the decline
- Resistance is at $9.60
NAM CHEONG (42 cents) - Facing resistance
- Appears stronger than its larger cap peers
- Break above 42 to 43 cents level will be an uphill task
- Prices are likely to move sideways before easing
- Support appears at 38.5 cents
WILMAR INTERNATIONAL ($3.17) - Chart pattern strengthens
- Base formation continues
- Prices are testing top of a multi-month base formation at $3.16 to $3.20
- Break above this level gives upside of $3.40
NOBLE GROUP ($1.275) - Temporary rebound
- Rebounding on significantly lower volume
- Resistance is near current levels at confluence of 50 and 200 day moving averages
- Support is at recent October low of $1.18
(Source: TheEdgeSingapore November 17, 2014)
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