False dawn or real breakout?

SEMBCORP MARINE ($1.425) - Rally may not be sustained

- Counter has the greatest strength among the quality O&M stocks

- Prices are still beneath the key 200 day moving average

- Resistance is at $1.50

- Support for retreat is at $1.35

KEPPEL CORP ($5.40) - Entrenched in sideways range

-  Prices have been in a very narrow range for the past three months

- It is unlikely that prices will be able to break out soon

- Move above $5.45 would indicate an upside of $5.80

ST ENGINEERING ($3.27) - Ambiguous move

- Counter's moves have been ambiguous

- Short term stochastics is in a peaking process

- Prices may consolidate at current levels first

- In event of breakout, upside is limited to $3.40

- Break below $3.10 would be negative

SEMBCORP INDUSTRIES ($2.72) - Breaks out of base

- Chart pattern has strengthened

- If directional indicators turn positive and quarterly momentum breaks above resistance, the initial price target could be $2.90 with eventual target at $3.10

HOTEL PROPERTIES ($3.82) - Breaks above 200 day moving average

- Prices have moved above 200 day moving average and resistance at $3.60

- Breakout indicates an initial upside of $4

- There are signs that the upmove may not be sustainable

GENTING SINGAPORE (95.5 cents) - Set for retreat

- Prices have run ahead of themselves

- Indicators suggest that upside is likely to be limited

- Support is at 94 cents.  Break below this level would be negative

(Source:  TheEdgeSingapore November 28 2016)