Warning signs as price surge abates, laggards to rebound

ALLIANCE MINERAL ASSETS (33 cents) - Forming minor top

- Prices are testing minor support at 32 cents

- If prices break below 32 cents, the next support is a long way down at 24 cents

- There is a minor support at 29 cents but this may not hold

- Resistance is at 36 cents

SUNNINGDALE TECH ($1.75) - Upside limited, consolidation likely

- The up-move appears to be over for the time being

- Quarterly momentum is still intact but it appears fatigued and likely to turn down

- Support is at $1.61

COMFORTDELGRO ($2.62) - Approaching top of base

- Prices are at the top of a base formation and facing resistance at $2.63

- Directional movement is turning up and DIs are positively placed

- Successful breakout would indicate an upside of $2.90

- Support is at $2.60

FISCHER TECH ($2.34) - Could start consolidation

- Largest gains are probably over

- Quarterly momentum is likely to turn down in the last week of this month

- Minor dip in the accelerated uptrend could turn out to be start of a minor top formation

MERMAID MARITIME (21.5 cents) - Possible breakdown

- Prices are testing the 50 day moving average at 21.7 cents

- Support is at 20 cents

- Directional movement is starting to turn up as DIs turn mildly negative suggesting that prices are likely to weaken

SBS TRANSIT ($2.76) - Breaks above resistance

- In near term prices could face some resistance at $2.70 to $2.75 region

- Successful breakout would indicate target of $3.45

- Prices are likely to head higher from current levels

(Source:  TheEdgeSingapore, April 17 2017)

Banks stuck in sideways trend as finance companies surge

DBS GROUP HOLDINGS ($19.13) – Fatigue could set in

•  Momentum remains above its equilibrium line
• Rising 50 day moving average, a support line, is at $18.92
•  If they do not hold, prices could ease towards $18 breaking the five month uptrend
• Resistance has been established at $19.20
• A break would indicate an upside but is unlikely in medium term

OVERSEA-CHINESE BANKING CORP ($9.70) – Temporary consolidation

• Prices are skirting the still rising 50 day moving average
• Uptrend is over for the time being and prices are locked in a sideways trend
• Although prices may dip below 50 day moving average, the overall uptrend should remain intact
• Resistance is at $9.72

UNITED OVERSEAS BANK ($21.94) – Uptrend stays intact

• Counter appears to have the greatest strength in its market segment
• Resistance is likely to appear at $22.12
• Support is at 50 day moving average support line currently at $21.41

HONG LEONG FINANCE ($2.83) – At extreme overbought level

• Prices are attempting second stage of an accelerated up-move
• On April 5 prices moved out of the sideways range.  The measured move target is $3
• Support is at $2.70
• Move below this level could lead to a top formation

SING INVESTMENTS & FINANCE ($1.545) – Possible up-move

• Prices have moved within a narrow sideway range
• Prices have the potential to break out on the upside.  In this event, it would indicate a target of $1.76
• Support is at $1.52

SINGAPURA FINANCE ($1.115) – Potential to move higher

• Prices are attempting to ready themselves for the next leg of the up-move
• To break out, volume needs to build up by April 10
• Break out would indicate an upside of $1.375
• Break below $1.08 would invalidate the upside support

(Source:   TheEdgeSingapore April 10 2017)

Laggards attempt breakouts as speculative interest takes hold

CITIC ENVIROTECH (83.5 CENTS) - Attempts to move higher

- Prices have managed to move above resistance at 83 cents

- A "pattern" gap formed on the breakout.  If this remains uncovered, outlook will be bullish

- If counter moves to cover the gap and falls to 83 cents or lower, the break could fail

- In the event of breakout, upside is at 94 cents

TAT HONG HOLDINGS (42.5 CENTS) - Breaks out of base

- Prices broke out of a base formation on March 28

- Prices are at the 200 day moving average at 43.7 cents, a level that coincides with a resistance area

- Prices should be able to move above this level eventually

- Break above 40 cents indicates target of 48 cents

- Immediate support is at 40 cents

SABANA REIT (51 CENTS) - Breaks out of resistance

- Long suffering counter is attempting to form an uptrend

- Based on chart pattern, upside from the breakout is at 56 cents to 57 cents

- Support should be kept at 48 cents if prices are able to close above this level on March 31

CHINA EVERBRIGHT WATER (47.5 CENTS) - Base formation

- Prices are in base formation

- Top of the minor base formation is at 50 cents

- Prices would need to move above this level to confirm that prices have broken out

- Support is at 45 cents

- Break above 50 cents would indicate a target of 58 cents

FRASERS COMMERICAL TRUST ($1.275) - Attempts to strengthen

- Prices are in base formation

- If prices manage to hold above $1.27, the next layer of resistance is at $1.30

- Indicators suggest that prices will have sufficient momentum to break above $1.31

- Break indicates upside of $1.42

- Support is at $1.27

FRASER AND NEAVE ($2.34) - Consolidates price surge

- In short term, prices are likely to move sideways to lower

- Overall though, this counter could move higher subsequently

- Resistance appears at $2.75 to $2.80

(Source:  TheEdgeSingapore April 3, 2017)