Sunday, May 31, 2015

Telcos oversold, S-chips overstretched

M1 ($3.20) - Short=term oversold
- Persistent decline has taken prices to new one-year low
- Quarterly momentum is at new two year low
- Congestion area at $3.13 to $3.19 should provide support
- A rebound should materialise shortly
- Resistance is at $3.35 ad $3.45

STARHUB ($4) - Excessively oversold
- Short term indicators are at the bottom of their range
- Prices are now at four times tested support area
- Rebound should materialise with resistance at $4.16 to $4.20
- Break below $4 would indicate a downside target

SINGAPORE TELECOMMUNICATIONS ($4.12) - Support/breakdown at hand
- Quarterly momentum has fallen below its equilibrium line
- Volume is expanding on black candle days suggesting that selling pressure has set in
- Support appears at $3.90 to $4 range
- Swift move above $4.16 would invalidate the breakdown

YUUZOO CORP (33.5 cents) - Challenging resistance
- Prices are currently testing resistance level
- Technically prices are still in a downtrend
- 50 day moving average has turned up and there is an early indication of strength
- Successful break above 34 cents indicates objective of 46 to 48 cents

CHINA NEW TOWN (9.7 cents) - Short-term overbought
- Prices appear to be somewhat overextended in the short term
- In the near term, consolidation is likely to alleviate overbought pressures
- The three year high is at 13.6 cents and all time high is at 18.5 cents

DUKANG DISTILLERS HOLDINGS (18.1 cents) - Breaks out of downtrend
- Prices are approaching a major resistance level which coincides with a one year high of 20.5 cents
- Support appears at breakout level of 15 cents
- Prices are currently less than half of the 38 cents level that they were at two years ago

(Source:  TheEdgeSingapore June 1 2015)

Sunday, May 3, 2015

Market laggards in base formation

COSCO CORP (61 cents) - Short-term overbought
- Prices have run ahead of themselves
- New support is at 57 to 58 cents
- Initial resistance is at 64 cents
- Break above this level indicates an upside of 80.5 cents

PACC OFFSHORE SERVICES HOLDING (49.5 cents) - Facing resistance
- Prices are challenging the 100 day moving average
- Technical suggests that downtrend has not been reversed
- Successful break would indicate an initial upside of 63 cents
- Support is at 46 cents

SEMBCORP MARINE ($2.96) - Temporary failure
- Technically prices broke below support at $2.99
- Overall uptrend of both quarterly momentum and 21 day RSI have not been breached
- The intermediate high is at $3.10 and the main resistance appears at $3.30

LAFE (3.9 cents) - Temporary retreat underway
- The long downtrend could be near an end
- In recent weeks, the counter's chart pattern started to crystallise
- Support should be raised to 3.7 cents
- Resistance/breakout is now at 4.9 cents

PACIFIC RADIANCE (70.5 cents) - Attempts breakout
- Prices are attempting to challenge the 100 day moving average
- Quarterly momentum has been unable to move above its equilibrium line
- Support is at 68 cents
- A successful price breakout indicates an initial target of 80 cents

TRIYARDS (51 cents) - In resistance area
- Prices have broken resistance area at 49 to 50 cent level
- Price support is at 49 cents
- Main resistance/breakout level is at 57 cents

(Source:  TheEdgeSingapore May 4 2015)