False dawn or real breakout?

SEMBCORP MARINE ($1.425) - Rally may not be sustained

- Counter has the greatest strength among the quality O&M stocks

- Prices are still beneath the key 200 day moving average

- Resistance is at $1.50

- Support for retreat is at $1.35

KEPPEL CORP ($5.40) - Entrenched in sideways range

-  Prices have been in a very narrow range for the past three months

- It is unlikely that prices will be able to break out soon

- Move above $5.45 would indicate an upside of $5.80

ST ENGINEERING ($3.27) - Ambiguous move

- Counter's moves have been ambiguous

- Short term stochastics is in a peaking process

- Prices may consolidate at current levels first

- In event of breakout, upside is limited to $3.40

- Break below $3.10 would be negative

SEMBCORP INDUSTRIES ($2.72) - Breaks out of base

- Chart pattern has strengthened

- If directional indicators turn positive and quarterly momentum breaks above resistance, the initial price target could be $2.90 with eventual target at $3.10

HOTEL PROPERTIES ($3.82) - Breaks above 200 day moving average

- Prices have moved above 200 day moving average and resistance at $3.60

- Breakout indicates an initial upside of $4

- There are signs that the upmove may not be sustainable

GENTING SINGAPORE (95.5 cents) - Set for retreat

- Prices have run ahead of themselves

- Indicators suggest that upside is likely to be limited

- Support is at 94 cents.  Break below this level would be negative

(Source:  TheEdgeSingapore November 28 2016)

Selected quality stocks plump to oversold lows

SINGAPORE AIRLINES ($9.97) - Rebound in a downtrend

-  Short and medium term oversold pressures should trigger a temporary rebound

-  Resistance appears at $10.20

- Overall though, the trend remains downwards

SIA ENGINEERING ($3.51) - Short-term rebound

- Short term indicators are at the bottom of their range

- The one year intraday low of $3.31 to $3.33 may provide some temporary respite

- Technical picture remains weak

- Immediate resistance appears at $3.60

ST ENGINEERING ($3.11) - Poised for breakdown

- Prices continue to hover around support area

- $3.14 is likely to act as a resistance line

- Indicators are noticeably weak

- Immediate support is around $3 and the eventual downside could be as low as $2.70

- Move above $3.14 could materialise

STARHUB ($3.13) - Short-term oversold

- Any rebound is likely to be temporary

- Prices have plummeted to four year low

- Downside is likely to be limited to $3

- Resistance appears at $3.20

SINGAPORE TELECOMMUNICATIONS ($3.84) - Testing support

- Support has been established at $3.84 to $3.85

- In case of a breakdown, a target of $3.43 is indicated

- If prices regain the 200 day moving average in the next two sessions, this would invalidate the target

KEPPEL CORP ($5.44) - Gains strength

- Prices are gaining strength

- Resistance appears at $5.47 to $5.48 level

- A breakout would be bullish and would indicate an initial target of $6

(Source:  TheEdgeSingapore  November 14 2016)

Office REITs to stay resilient despite consolidation

CAPITALAND COMMERCIAL TRUST ($1.60) - Facing resistance

- Prices broke below 50 day moving average and support at $1.57

- Indicators are moving in different directions

- Upturns are unlikely to sustain a break above resistance at $1.60

FRASERS COMMERCIAL TRUST ($1.395) - Unsustainable rebound

- Prices have bounce off their 50 day moving average

- Any further price rebound is likely to encounter resistance at $1.45

- Break above this level may not be sustained

- Support is at $1.37

KEPPEL REIT ($1.115) - Easier phase ahead

- A selloff was evident on Oct 19

- Volatility is likely to be low with prices moving into sideway range

- Support is at $1.08

- Resistance is at $1.15

MAPLETREE COMMERCIAL TRUST ($1.545) - Uptrend gives way

- Prices are likely to be in a corrective phase

- Prices broke below 50 day moving average and support at $1.55

- $1.55 likely to act as resistance

- Support is at $1.50

SUNTEC REIT ($1.73) - Could strengthen

- Counter is in a slightly different cycle from other REITs in the sector

- Counter is showing signs of strength

- Prices should be able to rebound to the top of the range at $1.80

- Support is at $1.70

OUE COMMERCIAL REIT (71 cents) - Set to ease

- Upside is likely to be limited to around 72 cents

- More likely, prices are set to ease towards 66 cents

- Quarterly momentum has been largely flat

- Break below equilibrium line would confirm a price decline

(Source:  TheEdgeSingapore October 24 2016)

Negative news prompts base formations

SINGAPORE POST ($1.52) - Emerges from base formation

-  Volume expansion accompanying white candle days is a positive sign

- Immediate resistance is at $1.58 and successful break would indicate target of $1.80

- Technical indicators indicate that upside is attainable

- Support is at $1.50

SINGAPORE TELECOMMUNICATIONS ($4.02) - Lacklustre outlook

- Indicators suggest that prices may stay within a trading range

- Moving averages are pointing in different directions

- All these are indications of continued range bound trading

- Resistance is at $4.06 and near term support is at $3.87

M1 ($2.39) - Strong oversold position

- Quarterly momentum continues to fall

- A couple of indicators point to a rebound off very oversold positions

- Prices have hovered around $2.40 establishing it as a minor resistance

- Support is at $2.35

STARHUB ($3.49) - Possible base formation

- Prices are attempting to form a bottom

- Short term indicators suggest a minor recovery

- Resistance appears at $3.50

SUPER GROUP (87.5 cents) - Short-term consolidation likely

- Price surge on Oct 5 is likely to be followed by a consolidation

- Consolidation could see prices ease towards 85 cents

- Next breakout level is at 90 cents and resistance appears at 95.5 cents

NOBLE GROUP (19.1 cents) - Signs of recovery

-  The chart pattern indicates a reverse head and should pattern

- The top of the base is at 18.1 cents

- A successful break indicates an upside of 24.5 cents

- Support is at 16.6ents

(Source:  TheEdgeSingapore October 10 2016)

Some developers bukc the sector's swoon

CITY DEVELOPMENTS ($9.11) - Could face resistance

- Resistance is at $9.24

- Likelihood of a strong uptrend developing is low

- Prices have managed to hold on to the rising 50 day moving average at $8.79, the new support level

HONGKONG LAND (US$7.05) - Upmove underway

- Prices broke above resistance level indicating target of US$7.80

- There are no signs of a breakdown

- In the absence of that, retreats should find support at US$6.90 with upside looking attainable

WHEELOCK PROPERTIES ($1.49) - Poised for upmove

- Counter could start to strengthen

- Resistance appears at $1.55

- Successful break would indicate upside of $1.65

- Support is at $1.45

CAPITALAND ($3.22) - Challenging resistance

- Prices are approaching four time tested $3.24 level

- This area provides significant resistance

- For now though, prices will probably not be able to breakout

- Support has been established at $3.06

YANLORD LAND GROUP ($1.415) - Established uptrend

- This has been one of the better performing property counters

- Now, the uptrend could start to accelerate

- There is an initial target of $1.60

- Support is at $1.35

FRASERS CENTREPOINT ($1.49) - Short-term oversold

- Counter formed a trough in mid September at $1.47 which should be viewed as support

- Resistance is likely to be at $1.51 to $1.52 range

- Prices have to form a base before any sustained recovery is possible

(Source:  TheEdgeSingapore October 3 2016)

Some breakouts, more breakdowns

HAW PAR ($9.09) - Strengthens, could make new high

- Prices have risen above 50 day moving average

- Prices should continue to rise

- Any retreat finds support at $8.87

- Resistance appears next at June high of $9.30

YANGZIJIANG SHIPBUILDING (76 CENTS) - Downtrend continues

- The one year downtrend shows no signs of letting up

- Any attemt to rebound is likely to be stymied by short-term stochastics

- Break below 78 cents points to target of around 50 cents

- Move above 80 cents invalidate the breakdown

STARHUB ($3.63) - Short-term oversold, downtrend intact

- Probably the weakest counter in its sector

- Indicators are significantly oversold, rebound is imminent

- Resistance appears at $3.80

- Support is t $3.30 level

HONGKONG LAND (US $6.54) - Poised for upmove

- Prices have rebounded off the confluence of moving averages

- Quarterly momentum has confirmed the bounce

- These should support price upmove towards resistance level at US$6.60 to US$6.64

SINGAPORE TELECOMMUNICATIONS ($3.97) - Falls below support

- Attempt to breakout has failed

- Prices may remain under pressure for longer

- Immediate support is at $4 to $4.02

- Rebound is likely to be tepid, with prices struggling to move back to $4.12

- Break below $4 indicate a downside target of $3.80 initially

M1 ($2.66) -Breaks below support

- Prices have slipped below 50 day moving average

- Indicators are pointing to an all-round weaker phase

- Prices are likely to drift lower towards $2.49 to $2.50

(Source:  TheEdgeSingapore September 5 2016)

Accelerated upmoves of situational stocks not sustainable

KEPPEL TELECOMMUNICATIONS & TRANSPORTATION ($1.69) - May attempt breakout

-  Accelerated upmove may push higher as there is plenty of punter interest

-  Prices should move above $1.72 indicating target of $1.92

-  Breakdown level is at $1.61 below which the upside is no longer valid

SUTL ENTERPRISE (50.5 cents) - Attempting breakout of base

- Has been in a sideways base formation for past 12 months

- Quarterly momentum has turned up after a multi-month positive divergence

- Any retreat should find support above 45 cents

- Upside from breakout is at 65 cents

NEW SILKROUTES GROUP (62.5 cents) - Overextended accelerated upclimb

- Prices have doubled within a month and look significantly overstretched

- Resistance approaches at 85 cents

- Support is at 56 cents below which prices could fall swiftly

BEST WORLD INTERNATIONAL ($1.855) - Overstretched high is unsustainable

- As prices rise, volume is contracting which suggests a lack of genuine buying demand

- Prices are being pushed higher despite a lack of buying demand

- Upside is probably limited to $2

- Support is at $1.80

- Breakdown points to a fall to $1.55

TPV TECHNOLOGY (30 cents) - Set to rebound

- Prices have managed to move above its 100 day moving average and thrice tested resistance at 26 cents

- Prices could move higher despite absence of genuine buying demand

- Resistance appears next at 38 cents

ACROMEC (82.5 cents) - Continued upclimb

- Prices have formed a clear uptrend since the counter's IPO

-  Volume has been shrinking as prices have climbed

- Directional movement is rising, supporting the upclimb

- Next upside is at 93 cents

- Support appears at 81 cents and then 75 cents below which uptrend will be breached

(Source:  TheEdgeSingapore 29 Aug 2016)

Which offshore stocks will survive the deluge?

KEPPEL CORP ($5.27) - Breaks down

- Short term stochastics should trigger a temporary rebound

- Resistance appears at $5.50

- Directional movement indicators have taken a negative turn

- Initial support is at $5 and $4.50

SEMBCORP MARINE ($1.335) - Oversold pressures build

- Short term stochastics represent an extreme oversold conditions

- There should be a temporary rebound off $1.31

- Rebound is likely to meet resistance at $1.50 to $1.54 range

MERMAID MARITIME (10.2 cents) - Poised for breakdown

- Prices have been trading within a narrow range

- Prices appear poised for breakdown

- Breakdown would indicate target of 7 cents

SEMBCORP INDUSTRIES ($2.72) - Breaks below support

- Prices are in process of breaking below sideway range

- Breakdown occurred at $2.91

- Decline has some way to go and initial support appears at $2.54

- January low of $2.23 should be able to stop the decline and trigger a rebound

PACC OFFSHORE SERVICES HOLDINGS (31.5 cents) - Falls below support

- Prices have just fallen below support at 34 cents

- Breakdown indicates downside of 27 to 28 cents

- Short term stochastics should bottom and may trigger a temporary rebound with resistance at 33.5 cents

MTQ HOLDINGS (43 cents) - Poised for a breakdown

- Quarterly momentum appears more resilient than the sector

- Prices are at twice tested support level at 43 cents

- Breakdown looks increasingly likely

- If prices break 43 cents, they indicate a target of 26 cents

- Any rebound is likely to be mild with resistance at 45 cents

(Source:  TheEdgeSingapore August 8 2016)

Indicators turn positive for index components

DBS GROUP HOLDINGS ($16.30) - Moving averages turn positive

- Longer term chart looks positive

- Following break above $15.60 and $16, counter has confirmed a break above a major base formation

- Support appears at $16

- Directional movement should support the uptrend

OVERSEA-CHINESE BANKING CORP ($8.98) - Moving averages strengthen

- Prices are testing a resistance area

- A breakout is a matter of time

- Any retreat should be shallow with support at $8.75

- Successful break above $9 indicate a target of $11

UNITED OVERSEAS BANK ($19) - Attempting to strengthen

- Counter has slightly less relative strength than the sector

- Prices are near a resistance area at $19 to $19.17

- Prices may ease towards $18.50

- Successful breakout provides objective of $20.70

SINGAPORE TELECOMMUNICATIONS ($4.23) - Upmove pauses

-  Immediate support is at $4.20

- If prices can hold, they have a better chance of forming a bull flag

- For this to materialise,  prices have to break above $4.32 in the next two session

- A successful break above $4.32 indicates a target of $4.67

KEPPEL CORP ($5.58) - Challenging breakout point

- Prices have been largely trading within a range since May

- Prices are likely to remain entrenched in a narrow range

- The level to note is when it moves above its 200 day moving average

- Breakout would provide a measuring objective of $6.30 initially and $7 subsequently

WILMAR INTERNATIONAL ($3.11) - Moving averages turn negative

- Before the price breakdown, the 50 and 100 day moving averages had already turned negative

- If break below $3.17 level is sustained, a measuring objective of $2.59 is indicated

- Downside would be invalidated if prices regain the $3.17 level

(Source:  TheEdgeSingapore July 25 2016)

Pockets of strength among index components

DBS GROUP HOLDINGS ($15.94) - Challenging resistance

- Prices have cleared a confluence of resistances at $15.60 which should provide support in event of retreat

- Break above $15.60 indicates an eventual target of $18.44 but this is unlikely in near term

- Prices may halt at $16 to $16.06

UNITED OVEREAS BANK ($18.28) - Facing immediate resistance

- Prices are challenging resistance at $18.40 to $18.50 range

- Quarterly momentum is in a downtrend

- Prices are likely to stay within a range

- Support is at $17.91

SINGAPORE EXCHANGE ($7.43) - Testing support

- Resistance appears at $7.70

- Overall there are pockets of weakness

- Support appears at $7.42

- Break below support indicate a downside of $6.70

OVERSEA-CHINESE BANKING CORP ($8.58) - Attempts to strengthen

- Prices have been unable to move above resistance at $8.60 to $8.70

- Prices are likely to stay within sideways range

- Prices need to break above $8.70 to indicate a new upside

- Support is at $8.48

SINGAPORE TELECOMMUNICATIONS ($3.87) - Attempts to gain strength

- Main trend appears to be sideways

- Top end of the trading range is at $3.97

- Short term indicators are likely to support prices

- Once prices approach $3.97 to $4 they could turn down

- Support is at $3.76

(Source:  TheEdgeSingapore June 27 2016)

Property stocks continue downtrend

HO BEE LAND ($2.26) - Uptrend intact

- Counter has outperformed its sector

- Consolidation should be followed by a further upmove

- Support is at $2.23 to $2.25

- Earlier break indicated a target of $2.45

UNITED ENGINEERS ($2.22) - Signs of weakness

- Price action points to weakness ahead

- Directional movement has turned up and directional indicators have turned negative suggesting lower levels

- Immediate support is at $2.11

-

OUE ($1.525) - Downtrend persists

- Quarterly momentum is in steep retreat

- Immediate downside is at $1.44 to $1.46

- Indicators suggest that immediate downside is limited

- Prices could rebound but range will probably be narrow with resistance at $1.56

BUKIT SEMBAWANG ESTATES ($4.60) - Limited upside

- Short term trend is likely to continue downwards

- Support appears to have been established at 200 day moving average currently at $4.51

- Indicators may trigger a rebound shortly

- Resistance is at $4.70

WHEELOCK PROPERTIES ($1.445) - No rebound yet

- Prices have fallen below moving averages suggesting further weakness

- Prices could retest its January low of $1.36

- Prices are unlikely to fall below $1.36 and should rebound at the first signs of demand

- Resistance is at $1.49

GLOBAL LOGISTIC PROPERTIES ($1.78) - Limited downside

- Indicators suggest that prices are likely to trend lower from current levels

- Immediate support is at $1.73 but this may not hold

- $1.63 is likely to provide substantial support

(Source:  TheEdgeSingapore June 20 2016)

Selected index components could gain strength

DBS GROUP HOLDINGS ($15.49) - Challenging resistance

- Prices are challenging resistance at $15.60

- Range is likely to be narrow with support at $15.12 to $15.15

- Successful break above $15.60 would indicate target of $18.44

OVERSEA-CHINESE BANKING CORP ($8.60) - Attempts to strengthen

- Prices have been unable to move above resistances at $8.60 to $8.70

- Prices are likely to stay within a sideways range

- Prices are at resistance level and could ease towards $8.30

UNITED OVERSEAS BANK ($18.28) - Unable to break out

- Prices were unable to move above confluence of 50 and 200 day moving averages at $18.50

- Break above this level would indicate upside potential

- Short term moves could be mildly lower and support is at $17.95

SIA ENGINEERING ($3.86) - Gaining strength

- Prices are attempting to break resistance at $3.84 to $3.85

- Successful break would indicate an initial up move to $3.97 an eventual target of $4.30

- Technicals look unable to sustain a breakout

- Move below $3.72 would invalidate the bullish outlook

ST ENGINEERING ($3.16) - Weakness could set in

- Quarterly momentum and 21 day RSI have weakened

- Indicators suggest that prices could ease with support at $3.10

- Resistance is at $3.24

KEPPEL CORP ($5.30) - Temporary bounce

- Price pattern looks weak

- Support for downwards drift appears at $5.12 to $5.15

- By $5.12 quarterly momentum would be ready for rebound

- Break above $5.58 would change the dull outlook

(Source:  TheEdgeSingapore Jun 6 2016)

Continued lack of buoyancy for offshore plays

SEMBCORP MARINE ($1.55) - Sideways range

- Prices have managed to hold around $1.50

- In short term prices are unlikely to move much higher

- Level to watch is $1.66

- Prices may attempt to challenge $1.66

YANGZIJIANG SHIPBUILDING HOLDINGS (89 cents) - Set to drift lower

- Technical indicators point to further downside

- Support is at 89 cents

- Breakdown would indicate a target of below 70 cents

- Move above 93 cents would invalidate the 70 cent downside

TRIYARDS HOLDINGS (39 cents) - Could strengthen

- Prices have been entrenched within a narrow range

- 21 day RSI is trying to rebound as well

- Support is at 37.5 cent level

EZION HOLDINGS (50.5 cents) - Getting no lift

- Chart pattern is not hinting at a recovery soon

- There are signs that prices have bottomed

- Prices could be trying to establish a floor at 49 cents

- Price resistance is at confluence of 50 and 100 day moving averages

EZRA HOLDINGS (7.2 cents) - Could break down

- Prices are at crucial level

- Quarterly momentum is showing signs of weakening

- Prices need to hold at support of 7.2 to 7.3 cents

- Low volume indicates lack of selling pressure but indicators also show that there is a lack of demand for the stock

PACC OFFSHORE SERVICES HOLDINGS (36 cents) - Could it break out?

- Short term technical picture is showing signs of relative strength in a still-weak sector

- Prices have just rebounded off 34.5 cents establishing a support

- Resistance is at 39 cents

(Source:  TheEdgeSingapore May 23 2016)

Leaders and laggards among property plays

METRO HOLDINGS ($1) - Limited short-term upside

- Technical indicators look good

- At current $1 level, prices are near four times tested five year high of $1.035

- Breakout at this juncture may prove difficult

GLOBAL LOGISTIC PROPERTIES ($1.97) - Stuck in narrow, sideways range

- Prices have been entrenched within a narrow sideways range

- In general, there is nothing that can support a break above $2

- Support is at $1.955

- Most likely break should be on upside but it may not be in near term

HO BEE LAND ($2.19) - Sideways range

- This is clearly a laggard

- Prices are likely to continue moving within their sideways range of $2.10 to $2.25

- Sputtering quarterly momentum may mitigate worst of downward pressure

WING TAI HOLDINGS ($1.925) - Short-term overbought

- This stock has outperformed the sector

- Quarterly momentum is at 18 month high

- Indicators are overextended, limiting their upside

- Resistance is around $2

- Immediate support is at $1.78 to $1.80

GUOCOLAND ($1.89) - Likely to consolidate

- Prices moved above its 200 day moving average

- For prices to move higher, the breakout level is $1.96

- Watch the $1.89 level.  A break below this level would cause prices to "cover the gap" with bottom at $1.84

CAPITALAND ($3.21) - Limited upside

- Prices have been stuck within a relatively wide trading range

- Resistance is at $3.25 to $3.29 range

- Breakout would set a target of $3.60

- Prices came up from $2.98 establishing this level as support

(Source:  TheEdgeSingapore April 25 2016)

Telcos consolidate as situational plays ease

SINGAPORE TELECOMMUNICATIONS ($3.72) - Could lose strength

- Prices encountered resistance as they moved above $3.84

- Indicators suggest that prices may be under some downward pressure

- Immediate support is at $3.71

- Break below this level is negative suggesting that prices may fall towards $3.40

M1 ($2.61) - Sideways consolidation likely

- Counter appears to be in a better position than the sector

- Support is at $2.59 below which prices may fall to $2.51

- Move below $2.51 would be extremely negative

- Resistance is at $2.62 to $2.63

ASCENDAS HOSPITALITY TRUST (67.5 cents) - A lost cause

- Counter has been building a top since peaking at 81 cents

- Last month prices broke 50 day moving average indicating initial downside of 62 cents

- Resistance appears at 70 cents

STARHUB ($3.29) - Evidence of weakness

- Counter remains relatively weak

- Quarterly momentum is weak and directional indicators are negatively placed

- Prices  are likely to stay under pressure

- Support is at $3.30 and break below would indicate downside of $3.10

- Resistance is at $3.50

GLOBAL LOGISTIC PROPERTIES ($1.95) - Consolidating recent gains

- In short term, counter could lose strength

- Prices may not be able to break $2 in the near term

- Resistance is lowered to $2 from $2.05

GENTING SINGAPORE (84 cents) - Facing resistance

- There are some positive signs from the moving averages

- In short term prices are likely to move sideways  as they approach resistance area

- Support is at 79 cents

- Break above 85 cents resistance would indicate upside of more than $1

(Source:  TheEdgeSingapore April 11 2016)

Banks consolidate as offshore stocks weaken

DBS GROUP HOLDINGS ($15.38) - Could lose relative strength

- Continues to lose relative strength against its sector

- Prices appear poised to "cross" below 100 day moving average

- Sign that the upmove is likely to fade is volume contraction as prices rose

- One saving grace is upturn by the 50 day moving average

UNITED OVERSEAS BANK ($18.87) - Sideways consolidation likely

- Prices may succeed in holding above 100 day moving average

- Quarterly momentum has stabilized

- Immediate moves are likely to be range-bound between $18.61 and $19.23

- Resistance is at $19.23

- Break below $18.61 would cause prices to weaken significantly

KEPPEL CORP ($5.83) - Weakness sets in

- Prices appear poised to fall below 100 day moving average

- Indicators suggest that prices are likely to move within a sideways range rather than fall sharply

- Beak below $5.89 would cause prices to drift towards $5.50

- Recovery should resume after a week or two of sideways consolidation

OVERSEA-CHINESE BANKING CORP ($8.84) - Consolidation to continue

- Prices had moved above 200 day moving average

- Prices may consolidate further

- Break below $8.80 - $8.83 level could cause quarterly momentum to break below its support

- Resistance is at $9.12

- Counter continues to display greater relative strength than the sector

CITY DEVELOPMENTS ($8.17) - Continues to gain relative strength

- Counter continues to gain strength against its sector

- 50 and 100 day moving averages are about to form a positive cross

- Prices are currently testing 200 day moving average.  Break would reinforce bullish outlook leading to upside of $8.50

- Support is at $7.80 to $7.85 range

SEMBCORP INDUSTRIES ($3.02) - Could continue to ease

- Prices are likely to ease in the next week or so

- Indicators suggest a sideways range rather than a precipitous decline

- Volume is expanding as prices decline, hinting at marginal selling pressure

- Prices are unlikely to move below $2.73

(Source:  TheEdgeSingapore April 4 2016)

Banks, blue chips break out

DBS GROUP HOLDINGS ($14.71) - Breaks above resistance

- Quarterly momentum has turned up

- Prices should break above 50 day moving average

- Resistance is likely to appear at $15.80

- Prices have probably bottomed at $13.02

- New support is at $14.00

OVERSEA-CHINESE BANKING CORP ($8.60) - Continues to gain strength

- This is the first bank to test its 100 day moving average

- On March 1, it was the first bank to move above its  book value

- Immediate resistance is at $8.62

- Support should be raised to $8.00 to $8.10

UNITED OVERSEAS BANK ($18.21) - Recovery underway

- Quarterly momentum has broken above its own moving average

- Successful break above $18 would indicate an initial upside of about $19.20

- In the short term, support appears at $18

CITY DEVELOPMENTS ($7.76) - Clears 100 day moving average

- Counter has gained tremendous strength since its result announcement

- Quarterly momentum has broken out of resistance

- Volume expanded when prices moved up

- 100 day moving average at $7.48 should be viewed as new support

- Successful break above $7.78 indicates target of $8.90

GLOBAL LOGISTIC PROPERTIES ($1.85) - Recovery underway

- Prices are attempting to move above 50 day moving average

- Once this resistance is cleared, prices have a clear path towards $2.05

- When prices clear the 50 day moving average, $1.83 level should be the new support

SEMBCORP INDUSTRIES ($3.03) - Recovery underway

- Prices have formed an uptrend following earlier break

- Prices are challenging 100 day moving average

- Could cause prices to pause and consolidate before breaking out

- Overall medium term indicators appear to have bottomed out

(Source:  TheEdgeSingapore March 7 2016)

Banks, offshore stocks recover

DBS GROUP HOLDINGS ($13.89) - Starts to bottom

- Prices touched $13.02 and has since rebounded

- Volume suggests that lack of sellers rather than stronger buying pressure was pushing prices higher

- Psychological resistance area appears at $14.00 to $14.05

UNITED OVERSEAS BANK ($17.25) - Some selling pressure

- Prices are approaching their January low of $17.02

- Directional movement is not indicating an immediate change in the downtrend

- Earlier break below $18 indicated downside target of $16

- Break above $17.66 would invalidate the negative outlook

SEMBCORP MARINE ($1.70) - Gains strength, breaks out

- Counter appears to be showing greater relative strength than the market

- Volume continues to expand as prices rise

- Prices have broken above 50 day moving average

- Break above $1.5 indicates initial upside of $1.80

- Support is at $1.50

OVERSEA-CHINESE BANKING CORP ($7.94) - Breaks above 50 day moving average

- Clear positive divergence has developed between quarterly momentum and price

- Remains to be seen if there is sufficient momentum for prices to challenge $8.62

- Test of $8.10 is likely soon

KEPPEL CORP ($5.32) - Breaks out of minor bottom

- Decline has been arrested

- Volume is expanding as prices rise

- Break above $5.05 indicates an immediate upside of $5.50

- At this level, overall downtrend would still be in force

- Support is at $5.05

SEMBCORP INDUSTRIES ($2.66) - Testing 50 day moving average

- Prices have now broken out of $2.50 level

- Volume increased steadily a prices started forming white candles

- Break indicates upside of around $2.95

(Source:  TheEdgeSingapore February 22 2016)

Strength amid weakness

JARDINE CYCLE & CARRIAGE ($38.17) - Steady uptrend

- Chart indicates latent strength

- Successful break indicates target of $40.50 and eventual upside of $42

- Positive upmove likely to resume when 100 day and 200 day moving averages forms a positive crossover

- Support is at $36.40

CAPITALAND MALL TRUST ($2.08) - Breaks above 200 day moving average

- Prices have managed to move above confluence of 200 day moving average and resistance area

- Ideally breakout indicates a near term upside of $2.15

- Support appears at $2.01

ASCENDAS REIT ($2.31) - Challenging resistance

- Prices are attempting to move above confluence of resistance and 200 day moving average

- Support appears at $2.27 to $2.30 level

- Successful breakout would indicate a target of $2.60

MAPLETREE COMMERCIAL TRUST ($1.37) - Poised for breakout

- Prices attempted to move above 200 day moving average

- Quarterly momentum is challenging a resistance at its equilibrium line

- Evidence suggests that prices should be able to break above $1.374

- Successful break would indicate target of $1.55

- Support is at $1.31 to $1.32 level

FRASERS CENTREPOINT TRUST ($1.895) - Attempting recovery

- Prices managed to move above 100 day moving average

- Volume is contracting and could deter counter from breaking out

- As indicators turn positive, it should support price upmove towards $1.96

CAPITALAND COMMERCIAL TRUST ($1.35) - Challenging confluence of resistances

- Prices are testing thrice tested resistance level

- Successful break above $1.34 indicates initial target of $1.42 and eventual upside of $1.60

- Support is at $1.30

(Source:  TheEdgeSingapore February 15 2016)

Decline continues, but some stocks find a floor

SINGAPORE TELECOMMUNICATIONS ($3.48) - Finds a temporary floor

- Prices managed to hold at $3.42

- Market remains weak, rebound may find resistance at $3.58 to $3.60

- Rebound is unlikely to alter the downtrend unless prices regain 50 day moving average

- Break below $3.42 would indicate downside objective

SINGAPORE POST ($1.30) - Extreme oversold readings

- Counter has fallen more than 21% since start of the year

- When prices broke below $1.63, a target of $1.24 was indicated

- Rebound should materialise on exceedingly strong oversold pressures

- Unlikely to reverse the downtrend

M1 ($2.27) - Possible bear flag

- There has been a temporary reprieve from decline

- Quarterly momentum is hovering around five year low

- Prices have further down potential

- Resistance appears at $2.32

- Further declines towards $1.93 likely

STARHUB ($3.30) - Temporary bounce, decline to resume

- Price break below support at $3.50 to $3.60 range

- Downside from the break is at $3.10

- There could be a temporary rebound but downtrend looks set to continue

GLOBAL LOGISTIC PROPERTIES ($1.67) - Excessive oversold pressure

- Temporary rebound is imminent

- Prices have tested their 2011 low of $1.56 to $1.67

- Any rebound is likely to be tenuous with resistance at $1.80

SINGAPORE AIRLINES ($10.90) - May weaken

- Counter stands out among component stocks

- Quarterly momentum appears poised for breakdown

- Would trigger price move below $10.80 taking prices towards $10.20

- Resistance is at $11.22

(Source:  TheEdgeSingapore February 1 2016)

Strong oversold pressures fail to trigger bounce

DBS GROUP HOLDINGS ($13.77) - Oversold pressures build

- Counter remains under selling pressure

- Annual momentum continues to fall

- Next support appears at $13.66

- Book value is at $15.42

KEPPEL CORP ($4.80) - Finds temporary support

- Counter could start to stabilise

- Quarterly momentum is at a low point and directional movement is at overextended level

- Prices have breached its downside target of $5.40

- Next support is at $3.66

UNITED OVERSEAS BANK ($17.07) - Attempts to find a floor

- Counter has a downside target of $16

- Prices are attempting to hold at $17 and prices may rebound temporarily

- Annual momentum has found support at a previous low which could mitigate the decline

OVERSEAS-CHINESE BANKING CORP ($7.57) - Extreme oversold readings

- Counter broke thrice tested support at $8.62

- Break indicates target of $7.50

- Prices are at their furthest point away from 200 day moving average indicating probability of a temporary bounce

SEMBCORP INDUSTRIES ($2.19) - Downtrend continues

- The long decline shows no signs of letting up

- Prices are $1.45 below the 200 day moving average, the largest gap since the global financial crisis

- Prices should attempt a rebound

- Support level during global financial crisis was at $1.80

SEMBCORP MARINE ($1.50) - Temporary rebound

- Counters appears to have found a floor following its test of $1.30

- Quarterly momentum remains in a downtrend

- Immediate resistance is at $1.66

(Source:  TheEdgeSingapore, January 25 2016)