Offshore, commodity stocks bottoming

COSCO CORP (58 cents) - Breaks above downtrend
- Prices are attempting to break six month downtrend
- Quarterly momentum is approaching resistance level
- Support is at 55 cents

GOLDEN AGRI-RESOURCES (44 cents) - Attempting to strengthen
- Prices are attempting to clear resistance at 42-43 cents level
- Directional movement indicators are indicating a potential uptrend
- If successful break above 43 cents materialises, upside of 52 cents is indicated
- Support is at 42 cents

SEMBCORP MARINE ($3.13) - Signs of latent strength
- Volume expanded on white candle days indicating some buying demand
- Prices have also managed to move above 100 day moving average
- Should have momentum to test $3.30

PACIFIC RADIANCE (74 cents) - Challenging resistance
- Prices are attempting to challenge 100 day moving average
- Volume has expanded significantly as prices crept higher
- Successful breakout indicates initial target of 80 cents
- Support is at 68 cents

INDOFODD AGRI (76 cents) - Pattern indicates strength
- Quarterly momentum weakened
- Prices are now at the neckline of a possible base formation
- Break above 73 cents would be positive
- ADX has turned up and DIs are positively placed
- Initial upside is at 83 cents

AUSGROUP (24.5 cents) - Attempting base formation
- Prices are attempting to end the downtrend
- Short term indicators have broken out
- If prices are able to clear 24.5 cents convincingly an upside target of 32 cents is indicated
- Support is at 50 day moving average

(Source:  TheEdgeSingapore April 20, 2015)