Commodity related stocks break down

NOBLE GROUP (85 cents) - Short term rebound

- Price broke 95 cents indicating target of 75 cents

- Quarterly momentum is now at five times tested level

- Breakdown level of 95 cents is a resistance and prices may go below 75 cents

WILMAR INTERNTIONAL ($3.23) - Rebounds off support

- Prices are attempting to rebound at $3.20 to $3.21range

- Resistance appears at $3.35

- Strong uptrend is unlikely to develop in the near term

VARD HOLDINGS (40.5 cents) - New one year low

- Prices have broken below support of 48.5 cents indicating target of 30 cents

- 50 and 100 day moving averages are likely to draw apart in a negative signal

- Resistance is at 48.5 cents

EZION HOLDINGS (94 cents) - Breaks below support

- Prices have just broken below the December low

- Breakdown indicates a target of 81 cents

- Move above $1.04 would invalidate the downside target

GENTING SINGAPORE (93.5 cents) - Poised for breakdown

- Breakdown indicates an initial target of 81 cents

- Quarterly momentum is likely to approach its October low

- Any rebound is  likely to be temporary with resistance at 95 cents

NAM CHEONG (30 cents) - Could break down

- Prices are testing one year low at 30 cents

- Volume is relatively low and any sign of an increase would suggest selling pressure

- Resistance is at 31 cents

- Break below 30 cents indicate downside of 25 cents

(Source:  TheEdgeSingapore March 23, 2015)

Water stocks and environment plays mixed

LEADER ENVIRONMENTAL TECHNOLOGIES (5.3 cents) - Set for a decline

 - Managed to rebound off a six month low

- Prices are set to fall to at least 5 cents

-Resistance is at 6.2 cents

MEMTECH INTERNATONAL (11.4 cents) - Should rally

- Prices could be attempting to form  a bull flag

- Break above 10.8 cents indicates an immediate upside of 12.5 cents

- Move below 10.8 cents would invalidate the bull flag

DARCO WATER TECHNOLOGIES (2.9 cents) - Attempting recovery

- Quarterly momentum has turned up from oversold levels

- Genuine buying has started with white candle days accompanied by volume expansion

- Successful break above 2.9 cents would indicate a target of 4.1 cents

RENEWABLE ENERGY ASIA GROUP (2 cents) - Confirms further decline

- Chart pattern is extremely negative

- Support has been established at 1.6cents

- Break below this level completes a bear flag

CHINA EVERBRIGHT WATER (93 cents) - Poised for breakdown

- Prices appear to break below support at 93 cents

- Prices are set to continue lower

- Breakdown would indicate target of around 70 cents

- Probability of rebound is low

SIIC ENVIRONMENT HOLDINGS (14.5 cents) - Challenging resistance

- Prices are approaching the top formation at 14 cents

- There is a good chance that the counter will attempt a breakout

- Target is at 17 cents

(Source:  TheEdgeSingapore March 16 2015)