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)