- 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)
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