HAW PAR ($9.09) - Strengthens, could make
new high
- Prices have risen above 50 day moving
average
- Prices should continue to rise
- Any retreat finds support at $8.87
- Resistance appears next at June high of
$9.30
YANGZIJIANG SHIPBUILDING (76 CENTS) -
Downtrend continues
- The one year downtrend shows no signs of
letting up
- Any attemt to rebound is likely to be
stymied by short-term stochastics
- Break below 78 cents points to target of
around 50 cents
- Move above 80 cents invalidate the
breakdown
STARHUB ($3.63) - Short-term oversold,
downtrend intact
- Probably the weakest counter in its
sector
- Indicators are significantly oversold,
rebound is imminent
- Resistance appears at $3.80
- Support is t $3.30 level
HONGKONG LAND (US $6.54) - Poised for
upmove
- Prices have rebounded off the confluence
of moving averages
- Quarterly momentum has confirmed the
bounce
- These should support price upmove towards
resistance level at US$6.60 to US$6.64
SINGAPORE TELECOMMUNICATIONS ($3.97) -
Falls below support
- Attempt to breakout has failed
- Prices may remain under pressure for
longer
- Immediate support is at $4 to $4.02
- Rebound is likely to be tepid, with
prices struggling to move back to $4.12
- Break below $4 indicate a downside target
of $3.80 initially
M1 ($2.66) -Breaks below support
- Prices have slipped below 50 day moving
average
- Indicators are pointing to an all-round
weaker phase
- Prices are likely to drift lower towards
$2.49 to $2.50
(Source:
TheEdgeSingapore September 5 2016)
