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)