Oversold office REITs find short-term floor

KEPPEL REIT ($1.15) - Decline encounters support

- Initial downside of $1.09 has almost been attained

- Quarterly momentum is turning up from an oversold low

- Prices are likely to stage a temporary rebound towards $1.19

CAPITALAND COMMERCIAL TRUT ($1.47) - Short-term oversold

- Worst of the decline could be over

- Break below $1.555 indicated target of $1.43

- Initial rebound when it materialises needs to get above $1.555 if any strength is to return

OUE COMMERCIAL REIT (70.5 cents) - Establishes lower trading range

- No clear trend for this counter

- Counter was listed at 80 cents

- Recovery is unlikely in the near term

FRASERS COMMERCIAL TRUST ($1.535) - Upclimb could be completed

- Counter has gained relative strength against its peers

- Quarterly momentum has formed a series of negative divergences

- Technical indicators suggest that largest gains are over

MAPLETREE COMMERICAL TRUST ($1.44) - Short-term weakness

- Prices may be under some short-term selling pressure

- Prices have just broken below minor support at $1.45

- Break above $1.45 in the next two sessions would invalidate decline towards $1.37

SUNTEC REIT ($1.715) - Could move into a range

- Directional movement has peaked and turned down

- Downside of $1.61 has been indicated when prices broke below $1.725

- Immediate resistance is at $1.76

- Prices could retreat to retest $1.68 in order to establish the bottom of a base

(Source:  TheEdgeSingapore July 27 2015)

Oversold S-chips fail to rebound

COSCO CORP (45.5 cents) - Selling pressure abates

- Prices have broken twice tested support at 47.5 cents

- Price breakdown indicates target of 32 cents

- Rebound is likely to be a temporary reaction to short term oversold pressures with resistance at 47.5 cents

MIDAS HOLDINGS (30 cents) - Weakening relative strength

- Break below 32 cents indicates downside of 23 cents

- There could be temporary rebound in the next two sessions as short term oversold pressures build up

- Resistance appears at 32 to 32.5 cents

UNITED ENVIROTECH ($1.645) - Poised for a breakdown

- Prices need to hold on to the 200 day moving average

- Indicators suggest weakness

- Decline is likely to resume shortly

- Break below $1.60 indicates a target of $1.40

SICC ENVIRONMENT (17.3 cents) - Temporary rebound in downtrend

- Short term oversold pressures have triggered a rebound

- Overall a downtrend has been established

- Downside is at 14.4 cents level

- A sustained recovery will only materialise once counter has formed a base

CHINA MINZHONG FOOD CORP (84.5 cents) - Selling pressure persists

- Declining trend is very evident

- Support is at 80 cents and break below this level indicates target of 55 to 56 cents

YANGZIJIANG SHIPBUILDING ($1.325) - Breaks support

- Prices recently broke below support at $1.39

- Indicators suggest that counter has started to form a downtrend

- Initial support is at $1.25 to $1.26

- Eventual downside could be below $1.10

(Source:  TheEdgeSingapore July 13 2015)

Blue chips attempt to stabilise

M1 ($3.24) – A positive divergence develops
- Potential double bottom
- Prices managed to hold at $3.19 to $3.20
- Rebound finds resistance at $3.33


STARHUB ($3.92) – Climactic selling over
- Selloff to new 18 month low caused divergence between price and 21 day RSI
- Prices may settle into a narrow range
- Breakdown level at $4 now serves as resistance level

SINGAPORE TELECOMMUNICATIONS ($4.24) – Gains relative strength
- Prices are forming some sort of base as they retreated from $4.30
- Prices may stay within a narrow range
- Support is at 200 day moving average currently at $4.06

NEPTUNE ORIENT LINES (85 cents) – Temporary rebound in downtrend
- Prices are attempting to establish support at 82 to 84 cents
- Directional movement indicators indicate that the worst decline from $1.20 to 80 cents is over
- Immediate resistance is at 93 cents

SINGAPORE AIRLINES ($10.95) – Attempting to bottom
- Sharp up move on July 2 takes price towards 200 day moving average
- Recovery is probably temporary
- Overall, immediate downtrend has halted
- Support is raised to $10.85


NOBLE GROUP (74.5 cents) – Facing short-term resistance
- This counter has found some sort of support at 64 cents
- Prices are attempting to challenge and move above 50 day moving average
- In short term, prices are likely to retreat
- If 64 cents during retreat phase, it would confirm start of base formation

(Source:  TheEdgeSingapore July 6 2015)