Resistances at hand

CREATIVE TECHNOLOGY ($4.03) – Light at the end of the tunnel
- Rebounded off a post financial crisis low of $3.25
- Resistance at $4.05
- Support for any retreat should be $3.88
- Break above $4.05 indicates a target of $5.20

PORTEK (56 cents) – Attempting breakout
- Counter has greater strength than the market and STI
- Prices are at resistance level
- Momentum is gradually rising
- Breakout above 56 cents would indicate a target of 66 cents

KEPPEL CORP ($11.82) – Building a top
- Resistance has been established at $11.96
- Chart pattern suggests that prices are building a top
- Support appears at $11.20

SEMBCORP MARINE ($5.76) – Short term overstretched
- One of the strongest stocks around
- Prices have broken out of resistance at $5.45 indicating a target of $5.90
- Support is at $5.45

COSCO CORP ($1.99) – Developing a downtrend
- This is the weakest of the rig-building stocks
- Prices have broken neckline of a top formation at $2.17, indicating a target of $1.80

FRASER & NEAVE ($5.85) – Temporary rebound
- Prices are attempting a rebound
- Current move is likely a temporary rally in a downtrend
- Resistance is at $6
- Eventual target from the breakdown is around $5.20

(Source: TheEdgeSingapore March 14 2011)

Temporary reprieve

CITY DEVELOPTMENTS ($11.42) – Rebound in a downtrend
- Rebound is under way
- Resistance at current levels
- $10.50 could be retested

GENTING SINGAPORE ($1.95) – Breaks double top
- Temporary rebound is underway
- Prices have just broken a double top indicating target of $1.50
- Quarterly momentum is turning negative

JARDINE C&C ($34.28) – Temporary rebound
- Short term moves are upwards
- Volume of the rebound has been light suggesting move is probably a countertrend move
- Support is at $31

SINGAPORE AIRLINES ($13.44) – Short term oversold
- Trend remains downwards
- Resistance is at $14 mark

SINGAPORE TELECOM ($2.90) – Temporary bounce likely
- Prices are now at the bottom of trading range
- This may cause a temporary rebound
- Resistance is at $3.04
- Support is at $2.86

WILMAR INTERNATIONAL ($5.16) – Temporary rebound
- Counter has been in a downtrend
- Resistance appears at $5.30
- Eventually prices are likely to break below $5 and would indicate a new objective of $4.60

(Source: TheEdgeSingapore March 7 2011)

Developing downtrends

BOUSTEAD (93.5 cents) – Breaks double top
- Break below $1 indicates an initial target of 80 cents
- Small hammer could indicate a brief bounce
- Resistance is at 97.5 cents

ROTARY ENGINEERING (89.5 cents) – Start of a downtrend
- Break below 95 cents indicates a target of 80 cents
- Resistance is at 91 cents in the event of a temporary bounce

HYFLUX ($1.99) – Latent selling
- Prices may experience a short bounce, at which point further selling could appear
- Break below $2.10 indicates an initial target of $1.70

CSE GLOBAL ($1.16) – Breaks double top
- Prices have just broken a double top indicating a target of $1
- A rebound in reaction to small hammer is likely to be temporary
- Resistance is at $1.20

KEPPEL LAND ($4.11) – Developing a downtrend
- Prices have broke below 200 day moving average of $4.22
- Early break below $4.50 indicated a target of $4
- Break below $4.10 is likely to indicate a target of $3.55

SOUND GLOBAL (64.5 cents) – Temporary bounce; downtrend established
- Hammer found on 23 Feb is likely to provide a brief respite from decline
- Rebound is likely to be temporary
- Initial support is at 57.5 cents

(Source: TheEdgeSingapore February 28 2011)