Selected index components could gain strength

DBS GROUP HOLDINGS ($15.49) - Challenging resistance

- Prices are challenging resistance at $15.60

- Range is likely to be narrow with support at $15.12 to $15.15

- Successful break above $15.60 would indicate target of $18.44

OVERSEA-CHINESE BANKING CORP ($8.60) - Attempts to strengthen

- Prices have been unable to move above resistances at $8.60 to $8.70

- Prices are likely to stay within a sideways range

- Prices are at resistance level and could ease towards $8.30

UNITED OVERSEAS BANK ($18.28) - Unable to break out

- Prices were unable to move above confluence of 50 and 200 day moving averages at $18.50

- Break above this level would indicate upside potential

- Short term moves could be mildly lower and support is at $17.95

SIA ENGINEERING ($3.86) - Gaining strength

- Prices are attempting to break resistance at $3.84 to $3.85

- Successful break would indicate an initial up move to $3.97 an eventual target of $4.30

- Technicals look unable to sustain a breakout

- Move below $3.72 would invalidate the bullish outlook

ST ENGINEERING ($3.16) - Weakness could set in

- Quarterly momentum and 21 day RSI have weakened

- Indicators suggest that prices could ease with support at $3.10

- Resistance is at $3.24

KEPPEL CORP ($5.30) - Temporary bounce

- Price pattern looks weak

- Support for downwards drift appears at $5.12 to $5.15

- By $5.12 quarterly momentum would be ready for rebound

- Break above $5.58 would change the dull outlook

(Source:  TheEdgeSingapore Jun 6 2016)

Continued lack of buoyancy for offshore plays

SEMBCORP MARINE ($1.55) - Sideways range

- Prices have managed to hold around $1.50

- In short term prices are unlikely to move much higher

- Level to watch is $1.66

- Prices may attempt to challenge $1.66

YANGZIJIANG SHIPBUILDING HOLDINGS (89 cents) - Set to drift lower

- Technical indicators point to further downside

- Support is at 89 cents

- Breakdown would indicate a target of below 70 cents

- Move above 93 cents would invalidate the 70 cent downside

TRIYARDS HOLDINGS (39 cents) - Could strengthen

- Prices have been entrenched within a narrow range

- 21 day RSI is trying to rebound as well

- Support is at 37.5 cent level

EZION HOLDINGS (50.5 cents) - Getting no lift

- Chart pattern is not hinting at a recovery soon

- There are signs that prices have bottomed

- Prices could be trying to establish a floor at 49 cents

- Price resistance is at confluence of 50 and 100 day moving averages

EZRA HOLDINGS (7.2 cents) - Could break down

- Prices are at crucial level

- Quarterly momentum is showing signs of weakening

- Prices need to hold at support of 7.2 to 7.3 cents

- Low volume indicates lack of selling pressure but indicators also show that there is a lack of demand for the stock

PACC OFFSHORE SERVICES HOLDINGS (36 cents) - Could it break out?

- Short term technical picture is showing signs of relative strength in a still-weak sector

- Prices have just rebounded off 34.5 cents establishing a support

- Resistance is at 39 cents

(Source:  TheEdgeSingapore May 23 2016)

Leaders and laggards among property plays

METRO HOLDINGS ($1) - Limited short-term upside

- Technical indicators look good

- At current $1 level, prices are near four times tested five year high of $1.035

- Breakout at this juncture may prove difficult

GLOBAL LOGISTIC PROPERTIES ($1.97) - Stuck in narrow, sideways range

- Prices have been entrenched within a narrow sideways range

- In general, there is nothing that can support a break above $2

- Support is at $1.955

- Most likely break should be on upside but it may not be in near term

HO BEE LAND ($2.19) - Sideways range

- This is clearly a laggard

- Prices are likely to continue moving within their sideways range of $2.10 to $2.25

- Sputtering quarterly momentum may mitigate worst of downward pressure

WING TAI HOLDINGS ($1.925) - Short-term overbought

- This stock has outperformed the sector

- Quarterly momentum is at 18 month high

- Indicators are overextended, limiting their upside

- Resistance is around $2

- Immediate support is at $1.78 to $1.80

GUOCOLAND ($1.89) - Likely to consolidate

- Prices moved above its 200 day moving average

- For prices to move higher, the breakout level is $1.96

- Watch the $1.89 level.  A break below this level would cause prices to "cover the gap" with bottom at $1.84

CAPITALAND ($3.21) - Limited upside

- Prices have been stuck within a relatively wide trading range

- Resistance is at $3.25 to $3.29 range

- Breakout would set a target of $3.60

- Prices came up from $2.98 establishing this level as support

(Source:  TheEdgeSingapore April 25 2016)