Shipyards show signs of strength

ASL MARINE ($1.05) - Breaks out

- Prices break above $1 resistance mark last month

- The move indicates a measuring objective of $1.26

YANGZIJIANG ($1.01) - Possible fatigue

- ADX is falling, suggesting that no clear trend is in force

- Prices need to break above $1.03 to reconfirm the uptrend

JES (21.1 cents) - At breakout point

- Prices are trying to clear a strong resistance level at 21 cents

- If prices clear 21 cent decisively, that would indicate a target of 32 cents

BAKER TECH (36 cents) - Clear uptrend develops

- Breakout above 30 cents indicates an initial target of 42 cents

- 44 cents is the twice tested resistance set in 2007

JAYA HOLDINGS (46 cents) - At support

- Breakout level is at 50 cents

BENG KUANG MARINE (24 cents) - Challenging resistance

- A break above 26 cents indicates a target of 34 cents

Neglected S-chips perk up

CHINA HONGXING SPORTS (23.5 cents) - Poised for breakout
- This counter looks like it is on the long road to recovery
- Break above 21 cents indicates a target of 44 cents
- A break below 21 cents negates the postive outlook

SYNEAR FOOD (33 cents) - Target 45 cents
- Break above 30 cents level indicates an initial target of 45 cents

CHINA ZAINO (28 cents) - Poised for breakout
- Prices are attempting to break above the thrice tested 29 cent level
- Break above 29 cent indicate a target of 40 cents

CHINA NEW TOWN (12.5 cents) - Testing resistance
- Consolidation is taking the form of an ascending triangle
- A successful breakout indicates a target of 21 cents

CHINA SKY (25 cents) - Set for higher levels
- Prices broke out of a multi-month base formation at 19 cents
- An initial target of 30 cents is indicated from the move

CHINA HAIDA (12 cents) - Emerging from downtrend
- Prices are emerging from a long downtrend
- A break above 15 cents provides the impetus for prices to test 21 cents

(Source: TheEdge Singapore August 31, 2009)

Buoyancy in selected offshore plays

ASL MARINE (99 cents) - Remains corrective

- Price could ease towards 94 cents

- Resistance breakout stays at $1

BAKER TECHNOLOGY (32 cents) - Possible rebound

- Price broke out of resistance at 31 cents

- Indicates a target of 44 cents

MERMAID MARITIME (87 cents) - Target $1

- Price broke out of resistance at 84 cents

- The next resistance is at $1

- Support is at 84 cents

FALCON ENERGY GROUP (77.5 cents) - Temporary correction

- Support at 72 cents

- Main uptrend remains intact

- Correction will likely continue this week with resumption of uptrend only in September

MARCO POLO MARINE (39 cents) - Continued consolidation likely

- Support is at 37 cents

- Resistance is at 44 cents

JAYA HOLDINGS (45.5 cents) - Prices attempt rebound

- Prices could hold at 41 cents

- Resistance/breakout is at 56 cents

(Source: TheEdge Singapore August 24, 2009)