Speculative interest in penny stocks to abate

SPACKMAN ENTERTAINMENT (16.2 cents) - Short term overbought

- Quarterly momentum is overstretched

- Likely to have correction in near term where prices retrace to 12.2 cents area

MM2 ASIA (78.5 cents) - Largest gains over

- Largest gains are probably over as prices start to build a top

- Prices tested 50 days successfully

- 100 day moving average at 66.7 cents is the support of last resort

- Resistance is at 80 cents

NEPTUNE ORIENT LINES ($1.21) - Upside limited

- Prices have risen more than 56% from low of 77 cents

- Volume is confirming trend and upside of around $1.26 was indicated

- Support appears at $1.15

ALLIANCE MINERAL ASSETS (12.3 cents) - Breaks above 100 day moving average

- Prices just cleared 100 day moving average at 9.7 cents

- Volume surged on initial breakout so upmove should resume once consolidation is over

- Resistance is at 14 cents

- Support is at 9.7 cents

GOLDEN AGRI-RESOURCES (36.5 cents) - Should stay resilient

- Prices are testing support area at 35 cents

- Prices have maintain their uptrend following breakout of base formation in September

- Resistance is at 41 cents

- Support is at 35 cents

CORDLIFE GROUP ($1.345) - Breaks above resistance

- Prices broke resistance at $1.27 indicating target of $1.48 - $1.50

- Prices broke out on high volume suggesting upside is attainable

- Prices likely to rise to upside before any major correction

(Source:  TheEdgeSingapore November 30 2015)