Banks pummelled, non-bank stocks recover

DBS GROUP HOLDINGS ($16.27) - Rebounds off oversold low

-  Quarterly momentum is still on a downtrend

-  Temporary rebound is underway

-  Likelihood that prices have bottomed is low

- Minor support has been established at $16.08

OVERSEA-CHINESE BANKING CORP ($8.80) - Rebounds off August low

- Prices rebounded off twice tested $8.70 level

-  Selling pressure has not completely dried up and prices could break below $8.70

- Resistance for rebound appears at $9.10 to $9.11

UNITED OVERSEAS BANK ($18.60) - Rebounds off oversold low

- Current rebound is likely to meet with resistance at $19.50

- If prices are able to rally towards $19.50, quarterly momentum will be able to display a positive divergence with price

GOLDEN AGRI-RESOURCES (33.5 cents) - Gains strength

- Prices appear to have moved about 4 times tested resistance at 31.8 cents

- Indicators suggest that prices should also be able to strengthen

- Resistance appears at 36 cents

- Support is at breakout level of 35.2 cents

FRASER AND NEAVE ($2.15) - Moves above 50 day moving average

- Counter has moved above 50 day moving average

- Has formed a chart pattern that could turn out to be a reverse head and shoulder pattern

-  Neckline is at $2.10 and break above $2.10 indicates target of $2.42

CAPITALAND COMMERCIAL TRUST ($1.32) - Starts to stabilise

- Prices are challenging 50 day moving average

- Quarterly momentum may have bottomed

- If prices hold at $1.30 in next three sessions, they should be able to move above 50 day moving average for test of $1.44

(Source:  TheEdgeSingapore October 5 2015)