Penny stocks wane

OXLEY HOLDINGS (38 cents) – Poised to break below top

-         Price has broken  down support at 37.5 cents indicating a target of 30 cents

-         Quarterly momentum appears poised for a breakdown

-         Resistance is at 40 cents

INTERRA RESOUCES (38.5 cents) – Building a top

-         Quarterly momentum has broken below support

-         In the immediate term, prices could bounce off 40 cents

-         Breakdown level is at 38 cents

-         A breakdown would indicate a target of 24 cents

YOMA STRATEGIC HOLDINGS (51 cents) – Could strengthen

-         Prices are in top formation

-         Breakdown level is at 50 cents

-         Breakdown would indicate a initial target of 40 cents and eventual target of 27 cents

-         Rebounds are capped at 54 cents

JEL CORP (17 cents) – Set to ease further

-         Prices may have peaked at 16 cents

-         Rebound on 2 May occurred on relatively lower volume a sign of change

-         Breakdown level is at 6 cents

TT INTERNATIONAL (14.1 cents) – Volatility signals a top

-         Prices have turned extremely volatile in the past two months

-         Resistance has been established at 16.5 cents

-         Support/breakdown is at 12 cents

IPCO INTERNATIONAL (2.1 cents) – On borrowed time

-         Quarterly momentum is resting on support

-         Breakdown level is at 1.8 cents

-         Punters should tread with caution

(Source:  TheEdgeSingapore May 7 2012)

Liquid assets

DBS GROUP HOLDINGS ($13.72) – Likely to ease
- Prices are probably in for period of sideways consolidation
- At present, prices are likely to face resistance
- Support is at $13

OVERSEA CHINESE BANKING CORP ($8.95) – Moves above resistance
- Break above $9 indicates a modest upmove to $9.60
- The upward bias is confirmed by upcoming cross between 100 day and 200 day moving averages

UNITED OVERSEAS BANK ($18.58) – Could strengthen
- Prices are now testing resistance at $18.50
- Successful break would indicate a target of $19.50

SINGAPORE EXCHANGE ($6.80) – Set to ease further
- Prices are hovering around support area
- Quarterly momentum is declining
- Resistance is at $6.90
- Break below $6.65 would provide the impetus to fall to $6

ARA ASSET MANAGEMENT ($1.525) – Starting to peak
- Momentum is retreating sharply, suggesting that prices are likely to follow suit
- Immediate support is at $1.50
- Break below support with momentum to fall below 50 day moving average towards $1.35

GREAT EASTERN HOLDINGS ($13.70) – Consolidating gains
- Prices are at the area of support
- Resistance is at $13.90
- Breakout would provide objective of $15

(Source:  TheEdgeSingapore April 30 2012)

Coal Play

AUSGROUP (41.5 cents) – Poised for upmove
- Although price ease, the up momentum may well return
- Support is at 38 cents
- Break above 40 cents would give a measuring objective of 50 cents

NAM CHEONG (21 cents) – At the start of an upward acceleration
- Prices could be at the start of an accelerated upmove
- Price broke above twice tested resistance at 20.5 cents
- Break could indicate a target of 30 cents
- Support is at 20 cents

PSL HOLDINGS (40.5 cents) – Breaks out of resistance
- Sign that a correction/consolidation is underway
- Key level to watch is at 37 cents
- Sustained breakout above 37 cents would indicate upside potential of 46 cents

ASL MARINE (58 cents) – Set for rebound
- ADX indicates that prices could well rally
- Support is at 55 cents
- Resistance is at 61 cents
- Breakout would indicate an upside of 67 cents

INTERRA RESOURCES (49.5 cents) – Overextended
- Prices are overextended and appear poised for a pullback
- Initial support is at 35 cents

MANHATTAN RESOURCES (84.5 cents) – Base formation
- Prices are in bottom formation
- Prices have an opportunity to move up to 92 cents
- Support is at 84 cents

(Source: TheEdgeSingapore April 16, 2012)