Oversold offshore stocks set for bounce, transport stocks lacklustre

COMFORTDELGRO ($2.97) - Could breach support

- Prices testing support area around $2.90

- Directional movement indicates that prices could fall below $2.90

- If prices break support, target of $2.70 is indicated

- Resistance is at $3.08

SATS ($3.85) - Building a top

- Signs of fatigue are setting in

- Directional movement suggests possible turn from uptrend

- Breakdown point is $3.81

- Prices are likely to trend sideways

- Resistance is at $4.03

SINGAPORE AIRLINES ($11.04) - Could challenge resistance

- Prices are hovering around support

- Indicators point to strength ahead

- Resistance appears at $11.10

- Prices may continue to trend sideways before attempting to breakout

- Successful breakout indicates target of $12.20

SEMBCORP INDUSTRIES ($3.04) - Short-term extensively oversold

- Prices are attempting to form support at $3

- Prices are ready for a rebound with resistance at $3.18

- They could then move sideways to build more of a base

SEMBCORP MARINE ($1.785) - Temporary bounce, downtrend intact

- Prices are at lowest level since 2008

- Downtrend is entrenched

- Prices are likely to form a new lower resistance level around $1.85

- Support is at $1.65 and this may well be breached

SMRT CORP ($1.475) - Facing resistance

- Prices are likely to weaken if they sink below support at $1.41

- Technical indicators confirm a weaker phase ahead

- Support appears at $1.35

- Resistance is at $1.50

(Source:  TheEdgeSingapore December 21, 2015)

Rotational interest drives short term gains

SUNMOON FOOD CO (8.4 cents) - Somewhat overstretched

- Prices have probably run ahead f themselves

- Quarterly momentum looks bullish

- In the short term prices may push higher but it is likely that the largest gains are over

- Resistance at 10 cents

- Support at 6.8 cents

TT INTERNATIONAL (8.7 cents) - Poised for breakout

- Prices could pause temporarily

- Support appears at 7.4 cents

- Prices have potential to move higher

- If prices break 9.1 cents, target of 13.2 cents is indicated

MEMSTAR TECHNOLOGY (1.2 cents) - Could start base formation

- Prices are still in a downtrend

- 1.5 cent level could turn out to be the top of a broader base formation

- 1.2 cent level should be seen as stop loss support level

WILLAS-ARRAY ELECTRONICS HOLDINGS (67 cents) - Breaks out of resistance

- Quarterly momentum has moved above resistance

- Directional movement is turning up

- Resistance appears at 78 cents

SINGAPORE O&G (81 cents) - Gains strength

- Counter continues to gain strength

- Uptrend remains intact

- Break above 78 cents indicates target of 93 cents

UNITED FOOD HOLDINGS (17.5 cents) - Could gain strength

- Quarterly momentum is showing signs of turning up

- Breakout of 18.3 cents would garner more interest

- Support is at 15.6 cents

(Source:  TheEdgeSingapore December 7 2015)

Speculative interest in penny stocks to abate

SPACKMAN ENTERTAINMENT (16.2 cents) - Short term overbought

- Quarterly momentum is overstretched

- Likely to have correction in near term where prices retrace to 12.2 cents area

MM2 ASIA (78.5 cents) - Largest gains over

- Largest gains are probably over as prices start to build a top

- Prices tested 50 days successfully

- 100 day moving average at 66.7 cents is the support of last resort

- Resistance is at 80 cents

NEPTUNE ORIENT LINES ($1.21) - Upside limited

- Prices have risen more than 56% from low of 77 cents

- Volume is confirming trend and upside of around $1.26 was indicated

- Support appears at $1.15

ALLIANCE MINERAL ASSETS (12.3 cents) - Breaks above 100 day moving average

- Prices just cleared 100 day moving average at 9.7 cents

- Volume surged on initial breakout so upmove should resume once consolidation is over

- Resistance is at 14 cents

- Support is at 9.7 cents

GOLDEN AGRI-RESOURCES (36.5 cents) - Should stay resilient

- Prices are testing support area at 35 cents

- Prices have maintain their uptrend following breakout of base formation in September

- Resistance is at 41 cents

- Support is at 35 cents

CORDLIFE GROUP ($1.345) - Breaks above resistance

- Prices broke resistance at $1.27 indicating target of $1.48 - $1.50

- Prices broke out on high volume suggesting upside is attainable

- Prices likely to rise to upside before any major correction

(Source:  TheEdgeSingapore November 30 2015)