FRASER & NEAVE ($5.68) – Resuming upmove
- Indicators remain strong
- Prices have found support at $5.50
- Current move could turn out to be part of a top formation if price is unable to break above $5.90
KEPPEL CORP ($9.23) – Temporary retreat
- A temporary pullback is under way
- Prices had earlier cleared thrice tested resistance at $8.80
- That indicated a target of $9.90
- Support at $9.00
NEPTUNE ORIENT LINES ($2.13) – At resistance
- Prices are taking the form of an ascending triangle
- Prices are at twice tested resistance at $2.11
- Successful break indicates a target of $2.46
- Support is at $2.02
SINGAPORE AIRLINES ($16.08) – Clear skies
- Prices tested at high of $15.90 in March before retreating
- A breakout is not a done deal
- Support is at $15
- Successful break indicates an upside of $17.50
SINGAPORE TELECOMMUNICATIONS ($3.12) – Always promising
- Prices are testing resistance at $3.13 to $3.15 for the third time
- Momentum is strengthening
- It could be that once again prices may disappoint
UNITED OVERSEAS BANK ($19.70) – Retreats from resistance
- The two other banks tested resistances and instead of breaking out got bogged down
- Prices have tested $19.80 to $20 level on previous occasions
- Support is at $19.20
- Successful break would indicate a target of $22
(Source: TheEdgeSingapore August 9 2010)
Saturday, August 7, 2010
Saturday, July 31, 2010
Tech plays in the limelight
BROADWAY ($1.20) – Attempting breakout
- Quarterly momentum is turning up
- Likely price break above $1.25 resistance
- Successful break indicates a target of $1.40
- Support at $1.16
DMX TECH (35 cents) – Base formation
- Prices have been entrenched in range of 34 to 36 cents
- Quarterly momentum and ADX are flat
FRENCKEN (32 cents) – Rebounds off support
- Prices should be able to reach and breach 37 cents
- Successful break indicates a target of 51 cents
- Fail point is at 30.5 cents
LONGCHEER (72 cents) – No cheer yet
- In terms of relative strength, this is one of the weaker tech stocks
- Resistance is at 75 cents
- Prices have an even chance to break out
- Successful break indicates a target of 80 cents
- Support is at 70 cents
UMS HOLDING (42 cents) – Somewhat overstretched
- Prices appear stretched
- If it can break above 41 cents, the target indicated is 48 cents
- Support is at 40 cents
ROKKO HOLDINGS (16 cents) – Shooting star
- Shooting star formation may temporarily curb advances
- Prices need to break 17 cents to confirm upmove
- Support is at 15 cents
- Break above 17 cents indicates a target of 23 cents
(Source: TheEdgeSingapore August 2 2010)
Saturday, July 24, 2010
The greening of China
RENEWABLE ENERGY ASIA GROUP LTD (34.5 cents) – Short term overstretched
- Any retreat should find support at 31 cents
- 50 day and 100 day moving average appear poised to move apart
- Should fuel a breakout of 34 cents
CHINA ENVIRONMENT LTD (25 cents) – Challenging 100 day moving average
- Appear ready to challenge the 100 day moving average at 25 cents
- May trigger a break above 25 cents
- Fail point is at 23 cents
SUNPOWER GROUP LTD (21.5 cents) – Testing downtrend
- Break point is at 22 cents
- Successful break indicates an upside of 30 cents
- Support is at 20 cents
UPP HOLDINGS LTD (18 cents) – Stuck in a sideways range
- Technicals suggest that prices could weaken
- Break above 19.5 cents with target of 25 cents
EZION HOLDINGS LTD (70.5 cents) – Poised for breakout
- Prices are struggling to move above 100 day moving average at 69 cents
- Successful break would indicate a target of 84 cents
- Support is at 66 cents
THINK ENVIRONMENTAL CO LTD (41.5 cents) – Not much action
- Prices could be pressured by the confluence of 50 day and 100 day moving averages at 41 cents
- A move above this is needed to trigger a breakout
- Support appears at 39 cents
(Source: TheEdgeSingapore July 26 2010)
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