High tide for offshore plays

KEPPEL CORP ($10.49) – Temporary correction
- Uptrend remains intact
- Correction likely to be temporary
- Support is at $10.20
- Prices broke $9.90 level indicating target of $13

SEMBCORP MARINE ($4.89) – Minor retreat likely
- Temporary correction on the cards
- Corrective phase unlikely to violate uptrend
- Support is at $4.60
- Breakout of reverse head and shoulder indicates a target of $5.80

SEMBCORP INDUSTRIES ($4.75) – Temporary retreat
- In the near term prices may ease
- Support appears at $4.60
- Breakout of head and shoulder base indicates a target of $5.50

DYNA-MAC HOLDINGS (51.5 cents) – Uptrend underway
- Break above 46 cents indicated a target of 57 cents
- Any retreat is likely to be temporary
- Support at 48 cents

STX OSV ($1.42) – Temporary pullback
- Temporary correction is underway
- Uptrend should remain intact
- Price broke $1.23 level indicating a target of $1.66
- Support is at $1.39

NEPTUNE ORIENT LINES ($1.44) – Going full steam ahead
- Break above $1.20 indicated a target of $1.38
- Next resistance is at $1.54
- Support is at $1.26

(Source: TheEdgeSingapore February 6 2012)

Index heavyweights push higer

HONGKONG LAND (US$5.28) – Developing an uptrend
- It has broken its 100 day moving averages and resistance levels
- As the uptrend develops, prices will be able to move well above US$6
- Support is at US$5.20 and US$4.94

DAIRY FARM (US$9.85) – Developing a gradual uptrend
- This counter is developing a gradual uptrend
- Breakout level is at US$10 and a successful break indicates a target of US$12.10
- Support is at US$9.50

JARDINE MATHESON (US$53.20) – Breakout at hand
- Prices are in good position to breakout
- Break above US$53 indicates an upside of US$61

JARDINE STRATEGIC (US$31.70) – Moves above resistance
- Prices are pushing ahead
- Resistance is at US$33
- Successful breakout indicates target of US$40

MANDARIN ORIENTAL (US$1.55) – Base formation
- Resistance/breakout is at US$1.60
- Break above US$1.60 indicates a target of US$1.90

JARDINE C&C ($50.14) – Peaking but uptrend intact
- Prices have been stuck at the US$49 to US$51 range
- Break above US$50 to US$51 would be positive. However indicators are not supporting this outcome

(Source: TheEdgeSingapore January 30 2012)

Greenback proxy plays

HONGKONG LAND (US$4.89) – Greater relative strength
- Resistance is at US$4.94
- Successful breakout indicates target of US$5.50
- Fail point of breakout is US$4.75

DAIRY FARM (US$9.78) – Developing uptrend
- Underlying trend is actually upwards
- Moving averages have made golden cross
- Breakout is at US$10
- Successful breakout indicates target of US$12.10
- Support is at US$9.50

JARDINE MATHESON HOLDINGS (US$49.69) – Entrenched sideways
- There are signs of strength
- US$49.50 to US$50 is likely to provide resistance in near term
- Expect sideway movements
- Support is at US$47

JARDINE STRATEGIC (US$29.68) – Moves above resistance
- May pause in its upmove
- Rebound is unlikely to turn into a sustained rally
- Resistance is at US$33

MANDARIN ORIENTAL (US$1.525) – Base formation
- Prices are in base formation
- Quarterly momentum has strengthened
- Prices are trying to move above US$1.51
- Support is at US$1.47
- Break above US$1.60 indicates a target of US$1.90

JARDINE C&C ($50.80) – Uptrend intact
- Prices are set to move higher
- Prices have moved above psychological mark of $50 setting a new upside of $57
- Support is at breakout level

(Source: TheEdgeSingapore January 9 2012)