Third liners on the run

HONG FOK CORP (59 cents) – Takes a breather
- Temporary correction is underway
- Support is at 60 cents
- Difference between price and moving average is highest in 2 years
- Resistance is at 65 cents

SIM LIAN GROUP (63 cents) – Fatigue to set in
- Largest gain could be over for the time being
- Rising prices are accompanied by falling volume
- Support is at 60 cents
- Resistance is at 63 cents

ROXY PACIFIC HOLDINGS (56 cents) – Early signs of fatigue
- Up momentum has been broken by short sideway range
- Immediate support is at 55 cents
- Breakdown could see prices fall towards 50 day moving average

FRAGRANCE GROUP (44 cents) – Decelerating uptrend
- Main uptrend is still intact
- Support/breakdown is at 44 cents
- Breakdown points to decline to 40 cents
- Resistance is at 49 cents

OXLEY HOLDINGS (41 cents) – Overextended
- Prices are overextended and appear poised for a pullback
- Support is at 40.5 cents
- Resistance is at 43.5 cents

SEE HUP SENG (24 cents) – Ready to break out
- Short term indicators have turned up
- Support has been established at 21.5 cents
- Immediate break above 25 cents provides impetus to test 30 cents

(Source: TheEdgeSingapore April 9 2012)

Offshore plays drift sideways

KEPPEL CORP ($10.88) – Sideways consolidation
- Corrective phase may continue
- Breakout of thrice tested resistance at $11.10 appear difficult
- Watch the rising 50 day moving average and neckline support at $10.70

SEMBCORP MARINE ($5.24) – Correction remains in force
- Correction will likely persist
- Resistance is at $5.40 level
- Break below 50 day moving average could prolong consolidation

SEMBCORP INDUSTRIES ($5.26) – Correction underway
- Prices will likely drift sideways
- Resistance has been established at $5.40
- Neckline support is at $5

ASL MARINE (55.5 cents) – Set for rebound
- Counter could attempt a rebound soon
- Prices are near support at 55 cents
- Resistance is at 65 cents

YANGZIJIANG SHIPBUILDING ($1.31) – Continued consolidation
- Current moves will probably continue to be sideways
- Support is at $1.20
- Resistance is at twice tested $1.40 level

JES INTERNATIONAL HOLDINGS (22 cents) – Continued retreat
- Indicators are mixed but evidence is pointing to a price decline
- Resistance is at 24.5 cents
- 50 day moving average is at 21.4 cents

(Source: TheEdgeSingapore April 2 2012)

Food stocks gain weight

PETRA FOODS ($2.47) – Overextended
- Prices are somewhat overextended
- Technicals confirming strong upturn
- Temporary correction is imminent
- Support is at $2.30

SUPER GROUP ($1.73) – Correction in force
- Technicals suggest that prices have the impetus to break out of resistance at $1.84
- Successful break indicates a measured move to $2
- Support is at $1.70

ABR HOLDINGS (80 cents) – Correction underway
- Temporary correction is underway
- Support should materialize at current levels
- Break below 80 cents indicates a downside of 73 cents
- Resistance is at 86.5 cents

CONSCIENCE FOOD (21 cents) – Building a base
- Prices are building a base
- Top of the base is likely to be at 23.5 cents
- Indicators suggest that prices are likely to move sideways
- Support is at 20 cents

FOOD EMPIRE HOLDINGS (36.5 cents) – Attempting breakout
- Prices are in base formation
- Break above 40 cents indicates a target of 50 cents
- Support is at 35 cents

FOOD JUNCTION HOLDINGS (18.5 cents) – Early-stage base formation
- Prices have yet to bottom
- Prices are likely to remain in a sideways trend
- Eventual successful breakout indicates target of 25 cents
- Downside is limited with support at 18 cents

(Source: TheEdgeSingapore March 26 2012)