Accelerated upmoves of situational stocks not sustainable

KEPPEL TELECOMMUNICATIONS & TRANSPORTATION ($1.69) - May attempt breakout

-  Accelerated upmove may push higher as there is plenty of punter interest

-  Prices should move above $1.72 indicating target of $1.92

-  Breakdown level is at $1.61 below which the upside is no longer valid

SUTL ENTERPRISE (50.5 cents) - Attempting breakout of base

- Has been in a sideways base formation for past 12 months

- Quarterly momentum has turned up after a multi-month positive divergence

- Any retreat should find support above 45 cents

- Upside from breakout is at 65 cents

NEW SILKROUTES GROUP (62.5 cents) - Overextended accelerated upclimb

- Prices have doubled within a month and look significantly overstretched

- Resistance approaches at 85 cents

- Support is at 56 cents below which prices could fall swiftly

BEST WORLD INTERNATIONAL ($1.855) - Overstretched high is unsustainable

- As prices rise, volume is contracting which suggests a lack of genuine buying demand

- Prices are being pushed higher despite a lack of buying demand

- Upside is probably limited to $2

- Support is at $1.80

- Breakdown points to a fall to $1.55

TPV TECHNOLOGY (30 cents) - Set to rebound

- Prices have managed to move above its 100 day moving average and thrice tested resistance at 26 cents

- Prices could move higher despite absence of genuine buying demand

- Resistance appears next at 38 cents

ACROMEC (82.5 cents) - Continued upclimb

- Prices have formed a clear uptrend since the counter's IPO

-  Volume has been shrinking as prices have climbed

- Directional movement is rising, supporting the upclimb

- Next upside is at 93 cents

- Support appears at 81 cents and then 75 cents below which uptrend will be breached

(Source:  TheEdgeSingapore 29 Aug 2016)

Which offshore stocks will survive the deluge?

KEPPEL CORP ($5.27) - Breaks down

- Short term stochastics should trigger a temporary rebound

- Resistance appears at $5.50

- Directional movement indicators have taken a negative turn

- Initial support is at $5 and $4.50

SEMBCORP MARINE ($1.335) - Oversold pressures build

- Short term stochastics represent an extreme oversold conditions

- There should be a temporary rebound off $1.31

- Rebound is likely to meet resistance at $1.50 to $1.54 range

MERMAID MARITIME (10.2 cents) - Poised for breakdown

- Prices have been trading within a narrow range

- Prices appear poised for breakdown

- Breakdown would indicate target of 7 cents

SEMBCORP INDUSTRIES ($2.72) - Breaks below support

- Prices are in process of breaking below sideway range

- Breakdown occurred at $2.91

- Decline has some way to go and initial support appears at $2.54

- January low of $2.23 should be able to stop the decline and trigger a rebound

PACC OFFSHORE SERVICES HOLDINGS (31.5 cents) - Falls below support

- Prices have just fallen below support at 34 cents

- Breakdown indicates downside of 27 to 28 cents

- Short term stochastics should bottom and may trigger a temporary rebound with resistance at 33.5 cents

MTQ HOLDINGS (43 cents) - Poised for a breakdown

- Quarterly momentum appears more resilient than the sector

- Prices are at twice tested support level at 43 cents

- Breakdown looks increasingly likely

- If prices break 43 cents, they indicate a target of 26 cents

- Any rebound is likely to be mild with resistance at 45 cents

(Source:  TheEdgeSingapore August 8 2016)