Overbought pressures build for high-flying tech stocks

GLOBAL TESTING ($1.35) - Breaks out of resistance

-  Prices have broken several times tested resistance at $1.25

- Immediate upside from the breakout is at $1.62

- Any retreat should find support at the breakout level

FU YU CORP (24.5 cents) - Breaks out of resistance

- Prices have broken out of resistance at 21 to 22 cents

- Breakout indicates target of 31.3 cents

- Medium term indicators are positive

- Support is at 22 cents

AEM HOLDINGS ($2.06) - Short pause

- Prices have paused albeit temporarily

- If prices are able to hold above $1.72 further upside would be indicated provided prices can break above $2.08

- Quarterly momentum eased but its uptrend is intact

- Break below $1.72 invalidates the accelerated uptrend

CREATIVE TECHNOLOGY ($1.175) - Sideways range

- Short term prices may be lower with support at $1.15

- If volume expands and prices move below $1.15, signal is negative

- This looks less likely than an move to the upside, with prices reaching and breaching $1.27

UMS HOLDINGS (89.5 cents) - Time for consolidatation

- Prices have risen about 45% since beginning of the year

- While there is sufficient buying interest to drive prices higher, the upside from here is likely to be limited

- Probability of a consolidation looks more likely

- Support is at 77 cents

HI-P INTERNATIONAL (69 cents) - Up-move accelerates

- Prices are rising following a long consolidation

- On the weekly chart, it looks like a reverse head and shoulders formation

- Breakout was at 52 cents and target is at 70 cents initially and 81 cents subsequently

- In the short term prices may test 70 cents before retreating

- Immediate support is at 60 cents

(Source:  TheEdgeSingapore March 27 2017)

Situational plays surge on rotational interest

AEM HOLDINGS ($1.66) - Uptrend overextended

- Prices have accelerated following a brief pause

- There should be some upside

- Next resistance is likely to be $1.80

- Support is at $1.55

UMS HOLDINGS (75.5 cents) - Up-move continues

- There are no signs that the uptrend is likely to stop

- Prices appear to have broken above 74 cents potentially forming a bull flag

- In this event, upside is at 81 cents

- Traders should keep a tight stop loss at 71 cents

HI-P INTERNATIONAL (57 cents) - Uptrend to resume

- Uptrend is likely to continue

- In the immediate term, stochastics has turned down and this could cause a short-term sideways movement

- Prices should be able to break above 55 cents and test 72 cents

FISCHER TECH ($1.98) - Limited upside

- Prices have been fluctuating within a narrow sideways range

- Prices should continue to push ahead

- Prices have broken above $1.91 and are likely to move towards $2.10

- Since prices have almost doubled in past 12 months, upside is probably limited

CREATIVE TECHNOLOGY ($1.16) - Temporary consolidation

- Short term moves are likely to be lower

- Support should appear at $1.13 to $1.15

- When the upclimb resumes, resistance is at $1.49

HONG FOK CORP (77.5 cents) - Breaks out of one-year range

- The sharp up-move should continue

- Breakout indicates an initial upside of 85 cents and eventual target of $1

- Indicators suggest a sustained up-climb

(Source:  TheEdgeSingapore March 13 2017)

Offshore plays attempt to regain buoyancy

YANGZIJIANG SHIPBUILDING ($1.02) - Uptrend intact
- Prices have broken minor resistance at 94 cents indicating target of $1.08 to $1.10
- Fundamentals may be deteriorating but technically indicators show a strengthening trend
- Support is at 98 cents below which prices are likely to move into a consolidation phase

SEMBCORP INDUSTRIES ($3.26) - Starts to struggle
- There could be some loss of upward momentum
- Main uptrend remains very much in force but counter could be getting ready for sideways range
- Price support appears at $3.09

MERMAID MARITIME (22 cents) - Consolidation underway
- Prices are set to move into a sideways range
- Indicators are suggesting that prices could be in top formation or sideways consolidation with neckline at 19.6 cents
- Resistance is at 24 cents

KEPPEL CORP ($7.22) - Uptrend stays resilient
- Uptrend appears to be overextended
- Next important layer of resistance appears at $7.29 to $7.31
- Price support appears at $6.87 but should be raised to $7 if prices hold above $7.20

SEMBCORP MARINE ($1.935) - Overextended high
- Chart shows a bull flag formation indicating further upside of $2.02
- Based on formation of quarterly momentum there could be further upside
- Prices could go higher but they would have difficulty going much higher
- Support is at $1.72

PACC OFFSHORE SERVICES HOLDINGS (36.5 cents) - Consolidation phase
- Prices have eased towards earlier breakout level of 35 cents
- Prices are near support area
- Moving averages are positively placed.  If 100 and 200 day moving averages are able to draw apart in a rising trend, that would indicate continuation of the up-move

(Source:  TheEdgeSingapore March 6 2017)