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)