- Prices have broken below the neckline
- Breakdown indicates downside of $3.25
- Corrective phase is underway
FRASERS CENTREPOINT ($1.87) – Retains relative strength
- Temporary retreat could materialise for which support is likely at $1.80
- Unlikely to violate the main uptrend
- Indicators point to consolidation phase
- Resistance is at $1.90
UOL GROUP ($6.83) – Poised for corrective phase
- Quarterly momentum has turned down decisively after breaking neckline
- Although uptrend is intact at present, 50 days moving average could be breached
- Support is at $6.50
- Resistance is at $7.20
CITY DEVELOPMENTS ($10.36) – Likely to ease
- Prices appear poised to break 50 day moving average
- Quarterly momentum has broken down and formed a downtrend
- Thrice tested $9.90 provides momentary support
- If broken, downside is at $8.90
GLOBAL LOGISTIC PROPERTIES ($1.90) – Fatigue could set in
- Quarterly momentum has been declining after peaking in January
- Indicators suggest that upside is very limited
- Resistance is at $2.95
- Support is at $2.81
BUKIT SEMBAWANG ($6.01) – Sideways trend
- Prices are testing the 50 day moving average
- This is likely to be breached
- Volume has contracted noticeably confirming sideways phase
- Immediate range is likely to be limited
- Support is at $5.80
- Resistance is at $6.10
(Source: TheEdgeSingapore May 22, 2017)
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