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 31, 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)
- 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)
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