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)