Base formations increasingly visible

STARHUB ($3.58) - Base formation takes shape

- Prices have approached top of base formation

- Retreat is likely to be temporary

- When short term indicators recover and volume expands, prices should be able to clear resistance area

- Support is at $3.58

HI-P INTERNATIONAL (52.5 cents) - Recovery faces resistance

- Prices have managed to recover from steep decline

- Quarterly momentum is at a major resistance level

- Support should hold above 49 cents

- Break above 53 cents would indicate target of 70 cents

GENTING SINGAPORE (80.5 cents) - Base formation underway

- Prices are likely to move sideways to lower

- Support is at the neckline

- Break above 82 cents indicates a short term target of 91 cents

FIRST RESOURCES ($1.95) - Uptrend develops

- Temporary retreat underway with support at $1.85

- Prices should be able to move broadly higher towards $2.15

- Counter has outperformed the sector and looks set to retain its relative strength

BUMITAMA AGRI (82 cents) - Temporary easing

- There is some weakness

- 50 day moving average at 78 cents should be able to support any price retreat

- Prices need to move above 87 cents before they are able to gain up momentum

- There is a target of $1.04 if it successfully break above 87 cents

INDOFOOD AGRI-RESOURCES (58 cents) - Temporary retreat

- Worst news on the fundamental front could be over

- In the near term prices may ease further

- Support appears at 55 cents

- Earlier break above 55 cents indicated a target of 70 cents

(Source:  TheEdgeSingapore November 2 2015)