Negative news prompts base formations

SINGAPORE POST ($1.52) - Emerges from base formation

-  Volume expansion accompanying white candle days is a positive sign

- Immediate resistance is at $1.58 and successful break would indicate target of $1.80

- Technical indicators indicate that upside is attainable

- Support is at $1.50

SINGAPORE TELECOMMUNICATIONS ($4.02) - Lacklustre outlook

- Indicators suggest that prices may stay within a trading range

- Moving averages are pointing in different directions

- All these are indications of continued range bound trading

- Resistance is at $4.06 and near term support is at $3.87

M1 ($2.39) - Strong oversold position

- Quarterly momentum continues to fall

- A couple of indicators point to a rebound off very oversold positions

- Prices have hovered around $2.40 establishing it as a minor resistance

- Support is at $2.35

STARHUB ($3.49) - Possible base formation

- Prices are attempting to form a bottom

- Short term indicators suggest a minor recovery

- Resistance appears at $3.50

SUPER GROUP (87.5 cents) - Short-term consolidation likely

- Price surge on Oct 5 is likely to be followed by a consolidation

- Consolidation could see prices ease towards 85 cents

- Next breakout level is at 90 cents and resistance appears at 95.5 cents

NOBLE GROUP (19.1 cents) - Signs of recovery

-  The chart pattern indicates a reverse head and should pattern

- The top of the base is at 18.1 cents

- A successful break indicates an upside of 24.5 cents

- Support is at 16.6ents

(Source:  TheEdgeSingapore October 10 2016)

Some developers bukc the sector's swoon

CITY DEVELOPMENTS ($9.11) - Could face resistance

- Resistance is at $9.24

- Likelihood of a strong uptrend developing is low

- Prices have managed to hold on to the rising 50 day moving average at $8.79, the new support level

HONGKONG LAND (US$7.05) - Upmove underway

- Prices broke above resistance level indicating target of US$7.80

- There are no signs of a breakdown

- In the absence of that, retreats should find support at US$6.90 with upside looking attainable

WHEELOCK PROPERTIES ($1.49) - Poised for upmove

- Counter could start to strengthen

- Resistance appears at $1.55

- Successful break would indicate upside of $1.65

- Support is at $1.45

CAPITALAND ($3.22) - Challenging resistance

- Prices are approaching four time tested $3.24 level

- This area provides significant resistance

- For now though, prices will probably not be able to breakout

- Support has been established at $3.06

YANLORD LAND GROUP ($1.415) - Established uptrend

- This has been one of the better performing property counters

- Now, the uptrend could start to accelerate

- There is an initial target of $1.60

- Support is at $1.35

FRASERS CENTREPOINT ($1.49) - Short-term oversold

- Counter formed a trough in mid September at $1.47 which should be viewed as support

- Resistance is likely to be at $1.51 to $1.52 range

- Prices have to form a base before any sustained recovery is possible

(Source:  TheEdgeSingapore October 3 2016)

Some breakouts, more breakdowns

HAW PAR ($9.09) - Strengthens, could make new high

- Prices have risen above 50 day moving average

- Prices should continue to rise

- Any retreat finds support at $8.87

- Resistance appears next at June high of $9.30

YANGZIJIANG SHIPBUILDING (76 CENTS) - Downtrend continues

- The one year downtrend shows no signs of letting up

- Any attemt to rebound is likely to be stymied by short-term stochastics

- Break below 78 cents points to target of around 50 cents

- Move above 80 cents invalidate the breakdown

STARHUB ($3.63) - Short-term oversold, downtrend intact

- Probably the weakest counter in its sector

- Indicators are significantly oversold, rebound is imminent

- Resistance appears at $3.80

- Support is t $3.30 level

HONGKONG LAND (US $6.54) - Poised for upmove

- Prices have rebounded off the confluence of moving averages

- Quarterly momentum has confirmed the bounce

- These should support price upmove towards resistance level at US$6.60 to US$6.64

SINGAPORE TELECOMMUNICATIONS ($3.97) - Falls below support

- Attempt to breakout has failed

- Prices may remain under pressure for longer

- Immediate support is at $4 to $4.02

- Rebound is likely to be tepid, with prices struggling to move back to $4.12

- Break below $4 indicate a downside target of $3.80 initially

M1 ($2.66) -Breaks below support

- Prices have slipped below 50 day moving average

- Indicators are pointing to an all-round weaker phase

- Prices are likely to drift lower towards $2.49 to $2.50

(Source:  TheEdgeSingapore September 5 2016)