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)