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-  Breakdown level is at $1.61 below which the upside is no longer valid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