Reverse head-and-shoulders updates

HI-P INTERNATIONAL (67.5 cents) – Recovery to continue
- ADX is rising against positively placed DIs
- Support is at 65 cents
- Break above 72 cents indicates a target of 84 cents

KEPPEL CORP ($9.13) – Reversal still in progress
- The reverse head and shoulder is on-going
- Support is at $8.90
- Resistance/breakout is at $9.40
- Successful break indicates at target of $11.50

SEMBCORP INDUSTRIES ($4.20) – Ongoing right shoulder
- Prices are still in the process of forming the right shoulder
- Resistance is at $4.35
- Support is at $3.96 to $3.99 level

SEMBCORP MARINE ($3.96) – Reversal could fail
- Reverse head and shoulder formation is in danger of failing
- Support is at $3.77 level
- Resistance is at $4.30

YANLORD LAND GROUP ($1.19) – Lopsided reversal
- Broke out of a lopsided reversal at $1 and continued to rise
- If prices can hold above $1 on the retreat, the recovery is intact
- This stock carries high risk and its debt has been recently downgraded

YING LI INTERNATIONAL REAL ESTATE (27.5 cents) – Drawn-out base formation
- Reverse head and shoulders pattern is still ongoing
- Support is at 25 cents
- Break above 30 cents would indicate a target of 45 cents

(Source: TheEdgeSingapore November 21, 2011)

Calm amid the storm

FRASER AND NEAVE ($6.09) – Attempting reversal
- Continues to gain relative strength
- 50 day moving average could soon move above the 200 day moving average
- Price are near resistance at $6.30
- Support is at $5.89

CITY DEVELOPMENTS ($10.25) – Reverse head and shoulders
- Reverse head and shoulder pattern looks quite prominent
- Quarterly momentum is attempting to strengthen
- A breakout indicates a target of $12
- Support has been established at $9.60

WING TAI HOLDINGS ($1.25) – Meandering base
- Counter looks like forming a double bottom
- Chart pattern looks weak
- Support is at $1.21
- Resistance is at $1.30

KEPPEL LAND ($2.66) – Attempting reverse head and shoulders
- Reverse head and shoulder pattern is still developing
- Quarterly momentum remains weak
- Support is at $2.55
- Resistance/breakout is at $2.80

CAPITALAND ($2.64) – Drawn out base formation
- Quarterly momentum remains in negative territory
- Price are stuck in the base area at $2.60 to $2.70 range
- Support is raised to $2.50
- Break above $2.70 indicates a target of $3.60

HO BEE INTERNATIONAL ($1.25) – Downtrend still in force
- One of the weakest stocks in the property sector
- Quarterly momentum confirms the downtrend
- Immediate support is at $1.24. Break above $1.30 would break the declining trend
- Break below this level indicates downside around $1.08

(Source: TheEdgeSingapore November 14 2011)

A bunch of reverse heads and shoulders

DBS GROUP HOLDINGS ($12.49) – Attempting reversal
- A clear reverse head and shoulders formation is developing
- Resistance is at $12.90
- Support has been established at $11.70

KEPPEL CORP ($9.20) – Looks like a reverse head and shoulders
- The reverse head and shoulders formation looks quite prominent
- Prices are keen to attempt a test of neckline at $9.70
- 50 day moving average is at $8.49

SEMBCORP MARINE ($4.10) – Attempting reverse head and shoulders
- Prices appear to be gaining strength
- Top of the right shoulder is at $4.40
- If prices moved sideways for too long, then reversal is deemed to have failed

SEMBCORP INDUSTRIES ($4.15) – A sharp right shoulder
- Quarterly momentum appears to be strengthening
- Break below $3.85 would invalidate the formation
- Resistance is at $4.40

HI-P INTERNATIONAL (61 cents) – Attempting breakout
- Indicators are weak
- Prices in danger of falling below the 50 day moving average at 58 cents
- Support is at 57 cents and resistance is at current levels
- Breakout would indicate a target of 72 cents

ELEC & ELTEK (US$2.90) – Still a way to go
- Prices haven’t form a reverse head and shoulder but may be in process of forming one
- Prices should move within a range to form the right shoulder
- Support is at US$2.90 and resistance is at US$3.04

(Source: TheEdgeSingapore November 7 2011)