Offshore plays searching for support

SEMBCORP INDUSTRIES ($4.20) - Testing bottom of base
- Trying to find support at $4.12 to $4.16
- Prices may bound around the $4.20 level
- Resistance is at $4.40

EZION HOLDINGS ($1.10) - Trying to form a bottom
- Volume has been declining as prices fell
- At most prices may drift marginally below $1
- Resistance is at $1.135

EZRA HOLDINGS (54 cents) - Downtrend persists
- Temporary rebound is imminent
- Resistance appears at 59.5 cents
- Earlier break below 59.5 cents indicated target of 43 cents

KEPPEL CORP ($8.44) - Initial bounce, builds a base
- Volume started contracting as prices drifted lower
- Current rebound may find resistance at $8.70
- Prices have yet to establish a base
- Recent low of $8.01 and $7.91 should be viewed as support

NAM CHEONG (30.5 cents) - Downtrend underway
- Decline has just started
- Prices made a low of 29.5 cents on Dec 15
- Resistance is at 35 cents
- Target of 24 cents is likely to be reached

SEMBCORP MARINE ($3.12) - Starting base formation
- Bottom can only be confirmed if prices re-test their low of $2.85 and rebound
- Prices are unlikely to break above 50 day moving average before Christmas
- In the short term, prices may start to ease

(Source:  TheEdgeSingapore December 22 2014)

REITS continue to outperform

SUNTEC REIT ($1.945) - Somewhat overstretched
- Break above $1.86 indicates a target of around $2.02
- Volume surged as prices broke out suggesting genuine buying
- Support is at breakout level of $1.86

CAPITAMALL TRUST ($1.975) - Facing resistance
- Counter has lagged sector this year
- Quarterly momentum appears poised for a breakout
- If this materialises, prices will be able to move above resistance at $1.99 to $2.00 range
- Successful breakout indicates initial target of $2.12 and eventual upside of $2.22
- Support is at $1.96

GENTING SINGAPORE ($1.14) - Base formation
- Rebound is likely to fade shortly
- Resistance is at $1.15
- Volume has contracted as prices advanced a sign that up-momentum is depleting
- Support is at $1.08

CAPITARETAIL CHINA TRUST ($1.595) - Challenging resistance
- Counter appears poised for a rally
- Prices have found support at $1.59
- Volume surged as prices attempted to rise
- Resistance is at $1.63 level
- On breakout, upside of $1.80 is indicated
- Support is at $1.59

OLAM INTERNATIONAL ($2.13) - May ease from current levels
- Trend of this counter is basically downwards
- Immediate support is at $2.00 and a breakdown indicates an initial target of $1.80
- Resistance is lowered to the congestion around $2.20

YUUZOO CORP (51 cents) - Retreat underway
- Short term indicators are at the top of their range
- Retreat is likely to materialise
- Immediate support is at 50 cents and subsequent support is at 46 cents

(Source:  TheEdgeSingapore December 1, 2014)

Two-tier market

OVERSEA-CHINESE BANKING CORP ($10.35) - A blip now, more upside later
- Prices have risen since start of the month
- Counter may form a tweezers top, a minor top formation.  If so temporary resistance will be established at $10.50
- If this is breached, new upside is $11.10
- Support is at $10.20

DBS GROUP HOLDINGS ($19.56) - Facing resistance
- Prices may start consolidating their gains
- If uptrend is to be maintained support is at $19.20 to $19.30
- Breakout level is at $19.75
- Successful breakout indicates upside of $20.70

UNITED OVERSEAS BANK ($23.38) - Challenging resistance
- Prices are now challenging twice tested resistance at $23.50 level
- Successful breakout would point to retest of $24.10 resistance and indicate target of $24.50
- Support is at $23

GOLDEN AGRI-RESOURCES (45 CENTS) - Sharp sell-off
- Counter took a turn for the worse and collapsed on very high volume
- If prices break 45 cents it would form a bear flag and indicates a vertical measurement to 41 cents
- Move above 47 cents invalidates the bear flag

SEMBCORP INDUSTRIES ($4.62) - Decline halts, attempting base
- ADX is still high but is turning down suggesting that worst of decline is over
- Support is at $4.54
- Resistance is at $4.70

JARDINE C&C ($40.97) - Base formation
- 100 and 200 day moving averages are poised to form a dead cross
- In the near term, immediate decline has bee stopped
- Support has been established at $39.95
- Resistance appears at $42 and a breakout is unlikely this month

(Source:  TheEdgeSingapore November 24, 2014)