S-chips under short-term pressure

YANGZIJIANG SHIPBUILDING HOLDINGS ($1.22) - Momentum falls

- Quarterly momentum has fallen sharply

- 50 day moving average has been acting as support line since January

- Resistance is at $1.26

SINO GRANDNESS FOOD INDUSTRY GROUP (23 CENTS) - Could drift lower

- Prices appear to be in multi-month base formation

- Medium indicators are weak and DIs are negatively placed

- Support is at 21 cents

- Resistance appears at 24 cents

CHINA SUNSINE CHEMICAL HOLDINGS (79.5 CENTS) - Forms ascending triangle

- The uptrend is intact

- Chart pattern looks like an ascending right triangle

- Support should be kept at rising 50 day moving average line at 73 cents

CHINA AVIATION OIL CORP ($1.65) - Uptrend stalls

- Prices continue to hold above its moving average

- Quarterly momentum has flattened

- Resistance has been established at $1.73 level

- The 50 day moving average has acted as support since start of the year and is now at $1.64

- Breakdown level is at $1.58

CITIC ENVIROTECH (75.5 CENTS) - Sideways to lower

- Earlier break above 82 cents have failed and prices have drifted down

- Indicators suggest prices are likely to drift lower gradually

- Immediate downside is likely to be limited to about 70 cents

- Resistance is at 79 cents

YANLORD LAND GROUP ($1.89) - Momentum turns down

- Momentum appears to have broken below support

- Prices are still holding above its 50 day moving average

- Resistance has been established at $1.98

- Break below $1.87 would lead to price decline towards $1.70

(Source:  TheEdgeSingapore June 12 2017)