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)
