Some developers bukc the sector's swoon

CITY DEVELOPMENTS ($9.11) - Could face resistance

- Resistance is at $9.24

- Likelihood of a strong uptrend developing is low

- Prices have managed to hold on to the rising 50 day moving average at $8.79, the new support level

HONGKONG LAND (US$7.05) - Upmove underway

- Prices broke above resistance level indicating target of US$7.80

- There are no signs of a breakdown

- In the absence of that, retreats should find support at US$6.90 with upside looking attainable

WHEELOCK PROPERTIES ($1.49) - Poised for upmove

- Counter could start to strengthen

- Resistance appears at $1.55

- Successful break would indicate upside of $1.65

- Support is at $1.45

CAPITALAND ($3.22) - Challenging resistance

- Prices are approaching four time tested $3.24 level

- This area provides significant resistance

- For now though, prices will probably not be able to breakout

- Support has been established at $3.06

YANLORD LAND GROUP ($1.415) - Established uptrend

- This has been one of the better performing property counters

- Now, the uptrend could start to accelerate

- There is an initial target of $1.60

- Support is at $1.35

FRASERS CENTREPOINT ($1.49) - Short-term oversold

- Counter formed a trough in mid September at $1.47 which should be viewed as support

- Resistance is likely to be at $1.51 to $1.52 range

- Prices have to form a base before any sustained recovery is possible

(Source:  TheEdgeSingapore October 3 2016)