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)