Transportation stocks mixed

SINGAPORE AIRLINES ($14.02) – Breaks above resistance
- Break above $13.79 indicates a target of $15.30
- 200 day moving average is at $15.04 which is likely to provide resistance

TIGER AIRWAYS ($1.51) – Breaks out of base
- Prices are attempting to strengthen
- Break above $1.49 indicates a target of $1.70
- Volume expansion is absent. If support at $1.49 holds, prices may attempt to strengthen

KEPPEL CORP ($12.50) – Overextended
- Consensus is bullish, a sign the stock is overbought
- Clear divergence between price and indicator.
- Support appears at $12 and $11.80

SIA ENGINEERING ($4.13) – Sideways range
- Prices are still within a trading range
- Immediate breakout would be difficult
- Break above $4.14 indicates a target of $4.30

NEPTUNE ORIENT LINES ($1.98) – Base formation
- Prices are still in a base formation
- To gain strength prices will need to break out of $2 on significant higher volume than the counter is experiencing now

SEMBCORP MARINE ($5.85) – Correcting overbought readings
- Quarterly momentum has weakened
- Sharp up move appears to have run into resistance at $6
- Support is at $5.54

(Source: TheEdgeSingapore April 18, 2011)

Property stocks recover

CITY DEVELOPMENTS ($11.64) – Not a convincing formation
- Prices are attempting to form a reverse head and shoulder pattern
- There is insufficient volume to support a breakout
- Resistance at $11.96
- Support is at $11.20

CAPITALAND ($3.41) – Reverse head and shoulder
- Counter displays an almost textbook reverse head and shoulder formation
- Breakout took place at the neckline at $3.38
- A successful break indicates an initial target of $3.90

CAPITAMALLS ASIA ($1.86) – Breaks out of base
- Stock attempted to form a reverse head and shoulder pattern
- There was a simultaneous break above $1.80
- Breakout indicates an initial target of $2.04
- Occasion for some strength may be at hand

KEPPEL LAND ($4.53) – No follow-through
- Prices managed to rebound from a low of $4.01
- Immediate support is at $4.33

UOL GROUP ($4.89) – Facing resistance
- Upside is likely to be limited
- Resistance is at $5.05 to $5.06 range
- Better entry point is at the support of $4.70

YANLORD LAND GROUP ($1.63) – Attempting recovery
- Broke out of a minor double bottom formation at $1.50
- Support is at $1.50
- Counter has gained relative strength against the sector and market despite being an S-chip

(Source: TheEdgeSingapore April 11 2011)

Blue chips attempt to bottom

DBS GROUP HOLDINGS ($14.24) – Rebounds off support
- Resistance is at $14.50
- Strong trend is unlikely
- Based on current technical evidence, a break above $14.50 is unlikely

OVERSEA-CHINESE BANKING CORP ($9.30) – Develops downtrend
- Prices broke below the double top at $9.42 indicating a downside objective of $8.50
- There is a temporary rebound in force
- Resistance appears at $9.42 to $9.50 range

UNITED OVERSEAS BANK ($18.54) – No clear trend
- The post-tsunami decline halted at $18 establishing a level of support
- Resistance is at $18.90 to $19
- There is a chance of rebound by prices to the resistance level

SINGAPORE EXCHANGE ($7.75) – Approaching resistance
- Significant resistance appears at $8
- ADX is turning down indicating the start of a ranging phase
- Counter is set to ease and support has been established at $7.27

WILMAR INTERNATIONAL ($5.30) – Finding a bottom
- Downtrend may have found a temporary floor at the $5 level
- Prices are likely to move within a sideway range
- Resistance has been established at $5.40

SINGAPORE TELECOMMUNICATIONS ($2.92) – Resistance at hand
- For the past year, this counter has been ranging sideways
- Support has been established at $2.85
- Prices are likely to ease towards support soon

(Source: TheEdgeSingapore March 28 2011)