S-chips' loss in transition

CHINA ANIMAL HEALTHCARE (22.5 cents) – Heading back to 2008
- Prices could yet decline further
- Prices are headed towards 2008 level

CHINA MINZHONG (87.5 cents) – Temporary reprieve for a penny stock
- Prices are at their lowest since listing
- Resistance at 90 cents
- Prices are likely to break 84 cents which indicates a target of 60 cents

SYNEAR FOODS (12.9 cents) – Testing crisis low
- Prices appear to have stopped falling
- Recovery doesn’t look forthcoming
- Near term price movements are between 12 and 14 cents

SOUND GLOBAL (46.5 cents) – Heading south
- Global financial crisis low of 17 cents could be retested
- Psychological 50 cent mark is likely to act as resistance

MIDAS HOLDINGS (34 cents) – Approaching 2008 low
- The 2008 low was 29 cents and prices are approaching this level
- Recovery may be meager and insipid

YANDLORD LAND (83.5 cents) – Support appears at 2008 low
- Current rebound is temporary and prices have yet to bottom
- Selling pressure still exists on the weekly chart

(Source: TheEdgeSingapore October 10, 2011)

Cyclicals break supports

KEPPEL CORP ($7.94) – Breaks support
- Prices broke below support at $8.40
- Breakdown indicates target of $7.30
- Resistance is at $8.40

NOBLE GROUP ($1.40) – No let up in decline
- Area around $1.30 is weak and is likely to be breached
- Breakdown indicates target of 96 cents
- Any rebound to be mild

SWIBER (50 cents) – Set for a break below 44 cents
- Support is at 44 cents and is set to be breached
- Breakdown indicates target of 30 cents

SEMBCORP MARINE ($3.35) – Breaks support
- Broke support at $3.60
- Measuring objective of $2.80
- Resistance is at $3.60

OLAM INTERNATIONAL ($2.33) – Better relative strength
- Quarterly momentum is in negative territory
- Support is at $2.05
- Resistance is at $2.45

YANGZIJIANG SHIPBUILDING (93 cents) – Poised for a break
- Prices are breaking support at 95 to 96 cent range
- Breakdown indicates a target of 75 cents
- Any rebound is likely to be mild

(Source: TheEdgeSingapore October 3 2011)

Banks and properties in firing line

DBS ($12.10) – Trying to find a low
- All three moving averages are falling after forming dead crosses
- Breakdown below $13.50 indicates a target of $11.50
- A move above $13 would stem the downtrend

UOB ($17.33) – No shelter from the storm
- Prices appear poised to break below support at $17.20 to $17.50
- Breakdown indicates a target of $14

CAPITALAND ($2.52) – Gains relative strength
- Diminishing volume and narrow movements are indicative of a bottoming
- Near term moves will likely be sideways
- Support is at $2.38 to $2.43 range

FRASER & NEAVE ($5.70) – Retreating from resistance
- Prices are now testing confluence of resistance at $5.75 and $5.83
- Support has been established at $5.40
- Break below $5.40 indicates a target of $4.80

KEPPEL LAND ($2.82) – Testing support
- It may have found temporary support at current levels
- Breach of $2.86 likely
- Break below support indicates target of $2

OCBC ($8.13) – Still trending down
- Short term oversold pressures may trigger a temporary bounce
- Price broke double top formation at $8.60 indicating a target of $6
- Rebound will likely find resistance at $8.60

(Source: TheEdgeSingapore September 26 2011)