Bruised blues break supports

DBS GROUP HOLDINGS ($13.52) – Breaks below support

- Prices broke below the neckline of double top formation

- Eventual downside of $11.80

- Rebound likely to be temporary

OCBC ($8.10) – Breaks below 200 day

- Prices have broken below the 200 day moving average

- However prices have not broken through its double top formation

- Breakdown of double top formation indicates a target of $7

KEPPEL CORP ($8.43) – Hanging on

- Prices is holding above the 200 day moving average

- It has broken the head and should formation at $8.85. Indicates a target of $6

UOB ($18.12) – Breaks below 200 day

- Support is at neckline of double top formation at $17.80

- Any rebound is unlikely to be sustained

- Break below $17.80 indicates target of $15.20

CITY DEVELOPMENTS ($10.34) – At neckline of top formation

- Any rebound at this stage is likely to be temporary

- Break below $10 completes the top formation indicating a target of $8.50

SINGAPORE TELECOMS ($2.82) – Searching for a floor

- Pressure are clearly downwards

- Any rebound is likely to be temporary

- Breakdown level is $2.92 and a break below this level points to target of $2.50

(Source: TheEdgeSingapore May 31, 2010)

Palm-oil play turns slippery

KENCANA AGRI (30 cents) – Still intact

- Holding at support at 30 cents

- Negative divergence between price and RSI

- Break below 30 cents indicate a downside of 26 cents

INDOFOOD AGRI RESOURCES ($2.06) – Top formation

- Support has been established at $2

- Looks poised for a breakdown

- Break below $2 indicates a target level of $1.40

WILMAR INTERNATIONAL ($5.50) – Accelerated decline

- Immediate target of the breakdown is at $4.90

- Downward momentum is pretty strong

- May attempt a rebound soon but it is not sustainable

GOLDEN-AGRI RESOURCES (52 cents) – Still holding

- Immediate moves could actually be higher

- Rebound likely to be temporary

- Resistance at 56 cents

- Break below 52 cents indicate a target of 42 cents

FIRST RESOURCES ($1) – Poised for breakdown

- Support at $1 level

- Resistance is at $1.10

- Break below $1 indicates a target of 80 cents

OLAM INTERNATIONAL ($2.34) – Breaks down

- Resistance at $2.50

- Support at $2.24

- Break below $2.42 indicates a target of $2.08

(Source: TheEdgeSingapore May 24 2010)

Slow boat to China

COSCO CORP ($1.59) - Support should hold

- Prices are near support

- Support should hold

- Immediate resistance is at $1.62

C&O PHARM (45 cents) - Developing uptrend

- Support appears at 43 cents

- If stock's retreat holds at 43 cents, ensuing move could take price to 55 cents

CHINA XLX FERTILISER (56 cents) - At support

- A break above 59 cents indicate a target of 68 cents

- Downside looks limited and upside likely to be contained

CHINA NEW TOWN (12 cents) - Bottoming out

- Prices are trying to find support at current levels

- Resistance is at 14.5 cents

YANLORD PROPERTY GROUP ($1.68) - Conflicting signs

- Support is at hand

- Fundamentals are against a strong upmove

- Resistance is at $1.70

YING LI INTERNATIONAL REAL ESTATE (43.5 cents) - Less downward pressure

- Resistance has been established at 52 cents

- Does not look as weak as Yanlord

(Source: TheEdgeSingapore May 17, 2010)