Telco breakouts fail as mid-cap property stocks rise

STARHUB ($2.76) - At oversold low
- Counter has been particularly weak
- Indicators are not in extreme oversold territory yet
- Selling pressure will take time to subside
- Immediate support is at $2.75 level

M1 ($2.01) - Prices regain moving average
- At present annual momentum is flat after a major divergence with price
- Short term indicators are relatively neutral
- Resistance/breakout stays at $2.04

SIA ENGINEERING ($3.64) - Approaching target and resistance
- Prices have cleared the declining 100 day moving average
- As prices approach resistance quarterly momentum is likely to encounter resistance
- Correction/consolidation should meet with support at $3.54
- Prices are unlikely to break above 200 day moving average at first attempt

CHIP ENG SENG (68 cents) - Buying demand builds
- Convergence of moving averages indicates higher prices ahead
- Break above 66 cents indicates an initial target of 72 cents
- The only negative is the high level of short term stochastics
- Support is at 66 cents

OUE ($1.985) - Reaching overbought levels
- Prices are at one year high
- Chart pattern indicates an accelerated up-move
- If prices drop below $1.90, accelerated up-move will be breached.  Major support is at $1.84
- Next major resistance is at $2.22

SING HOLDINGS (34 cents) - Facing strong resistance
- Counter could start to gain strength
- Resistance is at 34 cent level
- A successful break would indicate target of 42 cents
- Any consolidation is likely to be sideways with support at 32 cents

(Source:  TheEdgeSingapore, February 13 2017)