Can offshore plays stay afloat?

EZION HOLDINGS (66 cents) – At support

- Prices need to move above 66 cents early this week

- If so, prices could go up to 72 cents

FALCON ENERGY GROUP (62 cents) – Breakdown

- Weakest of the offshore plays, based on relative strength

- Initially the break below 70 cents indicated a downside objective of 53 cents

- Prices have been in a downtrend since peaking last September

SWIBER HOLDINGS ($1.08) – Held by moving averages

- Prices are hanging to support at $1.08

- There is pretty good support at $1.0

- Resistance is at $1.10

EZRA HOLDINGS ($1.93) – Possible rebound

- Short term indicators have turned up, and this means that prices should rebound this week

- Resistance appears at $2.08

- Support is at $1.92

MERMAID MARITIME (63 cents) – Greater relative strength

- Prices are trying to find support at current levels

- Break below 60 cents is negative indicating a downside of 40 cents

- Resistance is at 71 cents

SBI OFFSHORE (27 cents) – Still intact

- In April prices broke out of resistance at 25 cents setting target of 33 cents

- Support is at 25 cents

- Prices are likely to ease in the short term

(Source: TheEdgeSingapore May 10, 2010)

Resorts Play

GENTING SINGAPORE (94 cents) – Forming double bottom

- Break above 95 cents indicate a target of $1.03

- Support is at 83 cents

GALLANT VENTURES (27.5 cents) – No breakout yet

- Support has been established at 26 cents

- Resistance is at 30 cents

- Break above 30 cents indicates a target of 40 cents

OVERSEAS UNION ENTERPRISE ($17.20) – Stunning rally

- Last month prices surge gaining some 70%

- Break above $17 indicates a target of $25

GENTING HONG KONG (20 US cents) – Base formation

- Prices appear to be in base formation

- Support is just about at current levels

- Break above 20 US cents would provide the impetus for test of 23 US cents

AUSSINO GROUP (10 cents) – Out of the picture

- If prices can hold above 10 cents, they would have moved above the 200 day moving average

- Break above 10.5 cents sets a new upside target for the year

BANYAN TREE (80.5 cents) – Breaking out

- Prices are at the top of a base formation

- A successful break would indicate a target of 92 cents

(Source: TheEdgeSingapore May 3 2010)

Doing the shipyard shuffle

BAKER TECHNOLOGY (56.5 cents) – Set for a pullback

- Target from the breakout has been met

- Thread carefully and leave before the party ends

- Support is at 50 cents and 43 cents

KEPPEL CORP ($10.06) – Above the fray

- Uptrend should probably be maintained

- Support is at breakout level of $9.70

- Breakout above $9.70 indicates a target of $10.80

SEMBCORP MARINE ($4.33) – The bystander

- Short term moves may be downwards

- Support is at $4.15

- Immediate resistance is at $4.33

- Break above $4.50 indicates a new upside of $5

YANGZIJIANG SHIPBUILDING ($1.43) – Acquirer discount

- Target from break above $1.25 has been met

- Minor support at $1.40

- Substantial support at $1.25

- Resistance is at $1.55

COSCO CORP ($1.79) – Joins the club

- Prices are likely to ease

- Support is at $1.78

- If support holds, prices may attempt a rebound towards $1.87

JES SHIPBUILDING (25 cents) – Out of the picture

- Range could be narrow with support at 22 cents

- Top of the shadow of the shooting star is at 26 cents

(Source: TheEdgeSingapore 26 April 2010)