- Prices have risen since start of the month
- Counter may form a tweezers top, a minor top formation. If so temporary resistance will be established at $10.50
- If this is breached, new upside is $11.10
- Support is at $10.20
DBS GROUP HOLDINGS ($19.56) - Facing resistance
- Prices may start consolidating their gains
- If uptrend is to be maintained support is at $19.20 to $19.30
- Breakout level is at $19.75
- Successful breakout indicates upside of $20.70
UNITED OVERSEAS BANK ($23.38) - Challenging resistance
- Prices are now challenging twice tested resistance at $23.50 level
- Successful breakout would point to retest of $24.10 resistance and indicate target of $24.50
- Support is at $23
GOLDEN AGRI-RESOURCES (45 CENTS) - Sharp sell-off
- Counter took a turn for the worse and collapsed on very high volume
- If prices break 45 cents it would form a bear flag and indicates a vertical measurement to 41 cents
- Move above 47 cents invalidates the bear flag
SEMBCORP INDUSTRIES ($4.62) - Decline halts, attempting base
- ADX is still high but is turning down suggesting that worst of decline is over
- Support is at $4.54
- Resistance is at $4.70
JARDINE C&C ($40.97) - Base formation
- 100 and 200 day moving averages are poised to form a dead cross
- In the near term, immediate decline has bee stopped
- Support has been established at $39.95
- Resistance appears at $42 and a breakout is unlikely this month
(Source: TheEdgeSingapore November 24, 2014)
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