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)