- Trying to find support at $4.12 to $4.16
- Prices may bound around the $4.20 level
- Resistance is at $4.40
EZION HOLDINGS ($1.10) - Trying to form a bottom
- Volume has been declining as prices fell
- At most prices may drift marginally below $1
- Resistance is at $1.135
EZRA HOLDINGS (54 cents) - Downtrend persists
- Temporary rebound is imminent
- Resistance appears at 59.5 cents
- Earlier break below 59.5 cents indicated target of 43 cents
KEPPEL CORP ($8.44) - Initial bounce, builds a base
- Volume started contracting as prices drifted lower
- Current rebound may find resistance at $8.70
- Prices have yet to establish a base
- Recent low of $8.01 and $7.91 should be viewed as support
NAM CHEONG (30.5 cents) - Downtrend underway
- Decline has just started
- Prices made a low of 29.5 cents on Dec 15
- Resistance is at 35 cents
- Target of 24 cents is likely to be reached
SEMBCORP MARINE ($3.12) - Starting base formation
- Bottom can only be confirmed if prices re-test their low of $2.85 and rebound
- Prices are unlikely to break above 50 day moving average before Christmas
- In the short term, prices may start to ease
(Source: TheEdgeSingapore December 22 2014)
