Hotel stocks could rerate

BONVESTS (95 cents) – Breaks out

-         Prices are attempting to move out of a narrow range

-         Successful break above 96 cents level indicate an upside of $1.08

-         Support is at 93 cents

CDL HOSPITALITY TRUSTS ($2) – Meeting resistance

-         Broad uptrend remains intact

-         Support should appear at $1.95

-         Resistance is at $2.07

HOTEL PROPERTIES LTD ($2.28) – Challenging resistance

-         Prices may lose steam before they retest $2.39

-         ADX has turned down, curtailing the extent of the upmove

-         Immediate support is at $2.20

-         Breakout above $2.39 indicates target of $2.75

HOTEL GRAND CENTRAL (78.5 cents) – Set for retreat

-         Prices are set to fall

-         Support is at 77 cents which when broken will cause prices to fall to 73 cents

-         Resistance is at 79 cents

OVERSEAS UNION ENTERPRISE ($2.54) – Developing uptrend

-         Prices broke out of sideways formation

-         Break above $2.42 establishes this as a support and indicates upside of $2.90

-         Temporary consolidation in the near term

AMARA HOLDINGS (37 cents) – Likely to ease

-         This is probably the weakest of the hotel stocks

-         Prices are trying to hold on to support at 36 cents

-         Support is at 35 cents and breakdown points to downside of 30 cents

(Source: TheEdgeSingapore August 13, 2012)

Blue chips attempt rebound

FRASER & NEAVE ($7.30) - Breaks out

- Earlier break above moving averages negated the downtrend

- Quarterly momentum has also moved above its own moving average

- Move above $6.90 indicates an objective of $7.50

JARDINE CYCLE & CARRIAGE( $48.88) - Breaks out of downtrend

- Prices moves out of downtrend indicating objective of $51

- Quarterly momentum has moved above its equilibrium line

- Support is at $46

JARDINE MATHESON (US$51.28) - Breaking out of resistance

- Prices have just moved above 100 and 200 day moving averages

- Break has yet to be supported by quarterly momentum

- If quarterly momentum breaks above equilibrium line it could trigger a price breakout with objective of $54.50

SEMBCORP INDUSTRIES ($5.27) - Breaks out

- Quarterly momentum is turning up

- Prices are inching above resistance level at $5.16 to $5.20

- Break above resistance level indicates an objective of $5.80

SINGAPORE TELECOMMUNICATIONS ($3.36) - New high

- Trend has finally resolved on the upside

- Prices are at a new high

- Breakout indicates target of $3.50

- Support is at $3.20

WILMAR INTERNATIONAL ($3.68) - Base formation

- Prices are beginning to form a base

- The top of the base is at $3.78

- ADX and DIs indicate that the worst of the decline is over

- Eventual break above $3.78 indicates an upside of $4.30

(Source: TheEdgeSingapore July 9 2012)

Blue chips attempt rebound

CITY DEVELOPMENTS ($10.71) - Breaks out of resistance

- Minor recovery phase is not over

- There is a target of $11.44 near resistance at $11.47

- Volume did not expand as price broke out

SINGAPORE AIRLINES ($10.24) - Starting base formation

- Prices have managed to find support near $10

- Prices may remain sideway

- Resistance/breakout is at $10.40

SINGAPORE EXCHANGE ($6.40) - Testing top of minor base

- Prices are at the neckline

- Quarterly momentum has recovered

- Resistance is at $6.41

- Support is at $6.05

DBS GROUP HOLDINGS ($13.75) - Challenging resistance

- Prices have moved above resistance

- Quarterly momentum is attempting to recover

- Follow through movement may meet constraints

OVERSEA-CHINESE BANKING CORP ($8.78) - Attempting breakout

- Prices are in recovery phase

- Resistance is at $9

- Overall there is no clear uptrend

- Resistance between $9 to $9.30

UNITED OVERSEAS BANK ($18.10) - Breaks out of minor base

- Quarterly momentum has cleared resistance

- Upmove is unlikely to be sustained

- Resistance is at $19

(Source:  TheEdgeSingapore June 25, 2012)