No let-up in decline for commodity counters

NOBLE GROUP (43 cents) - Testing support-breakdown level

-  Prices are hovering around end July low

-  Volume has started to expand as price moves below 43.5 cents

-  Breakdown will provide objective of 26.5 cents

GOLDEN AGRI-RESOURCES (30.5 cents) - Hovering around minor support

-  No clear signs that downtrend is at an end

-  If prices are able to hold at 30 cents, they may attempt to bounce towards 34 cents

-  Quarterly momentum suggests a breakdown is likely eventually with downside at 25 cents

OLAM INTERNATIONAL ($1.77) - Gains relative strength

-  Counter has gained tremendous relative strength against its sector

-  Counter remains entrenched beneath its 50 day moving average at $1.83

-  Support appears at $1.44 level

WILMAR INTERNATIONAL ($3.01) - Downtrend to persist

-  Prices are at a five year low

-  Psychological $3 level may provide momentary support

-  Break below $3 indicates a measuring objective of $2.68

EZION HOLDINGS (55 cents) - Indicators at new ultra-low

-  Selling remains heavy

-  For a rebound, volume needs to lighten up on black candle days

- Build up of oversold pressures shuld trigger an attempt at a rebound shortly

-  Resistance appears at 78 cents

KEPPEL CORP ($6.96) - Breaks below minor support

- Counter has broken twice tested support at $7.34 indicating an objective of $6.70

-  There are signs that selling is abating

(Source:  TheEdgeSingapore, August 24 2015)

Blue chips rebound, triggered by oversold pressures

OVERSEA-CHINESE BANKING CORP ($9.68) - Bounces off one year low

- On Aug 13, prices rebounded off a one year low

- Resistance appears at $9.83

- Price broke support at $10 indicating target of $9

- Quarterly momentum shows no sign of bottoming

UNITED OVERSEAS BANK ($20.35) - Rebounds off new three year low

- Temporary rebound is underway

- Resistance appears at $20.80

- Eventually after the rebound prices may resume their decline

- Support at $18.50

STARHUB ($3.75) - Could break below one year low

- Prices are retesting their two year low

- If prices break below $3.70 it indicates an objective of $3.45

- Prices could break down for another downwave

DBS GROUP HOLDINGS ($19.02) - Short term rebound off oversold low

- Counter has retained its superior relative strength

- Rebound is unlikely to get much beyond the 200 day moving average

- Quarterly momentum suggests that decline has yet to run its course

- Eventual downside could be at $17.76

SINGAPORE TELECOMMUNICATIONS ($3.98) - Breaks moving average

- Counter has greater relative strength than its sector

- ADX indicates rising probability of a further downmove

- One year low at $3.55 should provide support for this wave

M1 ($3.03) - Rebounds off excessively oversold low

- Temporary bounce is underway

- Resistance appears at $3.20

- Break below support indicates objective of $2.50

- Prices could trend broadly lower before starting to form a base

(Source:  TheEdgeSingapore August 17 2015)

Strong oversold pressures build in blue-chips

KEPPEL CORP ($7.62) - Rebounds off oversold low

- Excessive oversold pressure should trigger a temporary rebound

- Resistance appears at $7.80

- Support is at $7.36

- An earlier break below $8 indicates a target of $7

SEMBCORP INDUSTRIES ($3.76) - Rebounds off oversold low

- Prices staged a strong 30 cent rebound on Aug 5

- Rebound appears to b temporary

- Resistance is at $3.85

- Support is at $3.36

GREAT EASTERN HOLDINGS ($22.50) - Temporary bounce off new low

- Short-term indicators are at the low end of their range

- Temporary rebound should materialise soon

- Resistance is at $23.50

- Earlier break below $24 indicated an initial target of $22

SEMBCORP MARINE ($2.69) - Rebounds off five year low

- Short- term oversold pressures have built up

- Resistance appears at $2.70 to $2.75

- Prices are likely to resume their downtrend after the rebound

GLOBAL LOGISTIC PROPERTIES ($2.36) - May gain strength

- Counter surprised the market be falling rapidly

- Prices have since rebounded

- Prices fell below support at $2.42 indicating target of $2.20

UNITED OVERSEAS BANK ($21.57) - Short-term excessively oversold

- Both short and medium term indicators are at one year lows

- Prices should stage a temporary rebound

- Immediate resistance is at $22.35

- Support is at $21.49

(Source:  TheEdgeSingapore August 10 2015)

Short-term fillip for oversold offshore plays

VALLIANZ HOLDINGS (6.2 CENTS) - Superior relative strength

- Counter gained strength against the sector

- Prices rallied and moved above confluence of 50 and 100 day moving averages

- Technical indicators suggest that prices are likely to firm towards 6.8 cents

COSCO HOLDINGS (39 CENTS) - My bounce off 10 year low

- Prices have been making new 10 year lows

- In July prices broke below the 44 to 45 cent range.  This break indicates a move towards 36 cents

- Any rebound will be temporary with resistance at 45 cents

EZION HOLDINGS (91.5 CENTS) - Rebounds off oversold low

- Temporary rebound is underway

- Current rebound is likely to meet resistance at $1.02

- Spread between 200 day moving average and price widened to 0.35 recently

PACIFIC RADIANCE (43 CENTS) - Temporary bounce off new low

- Directional movement has turned down from nigh high of around 60

- Rebound is likely to meet resistance at 51 cents

- Prices are down 46% since start of the year

- No sign that downtrend is near its low point

PACC OFFSHORE SERVICES HOLDINGS (34.5 CENTS) - Downtrend to persist

- Short term oversold pressures should trigger temporary rebound

- Break below 45 cents indicates target of 33 cents

- Downtrend may not end and prices may move below this level

YANGZIJIANG SHIPBUILDING ($1.28) - Poised to break below support

- Prices appear poised to break below 200 day moving average

- Upcoming downtrend will be punctuated by rallies

- Eventually prices should fall to the $1 level

(Source:  TheEdgeSingapore August 3 2015)