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)
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