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)