Palm-oil play turns slippery

KENCANA AGRI (30 cents) – Still intact

- Holding at support at 30 cents

- Negative divergence between price and RSI

- Break below 30 cents indicate a downside of 26 cents

INDOFOOD AGRI RESOURCES ($2.06) – Top formation

- Support has been established at $2

- Looks poised for a breakdown

- Break below $2 indicates a target level of $1.40

WILMAR INTERNATIONAL ($5.50) – Accelerated decline

- Immediate target of the breakdown is at $4.90

- Downward momentum is pretty strong

- May attempt a rebound soon but it is not sustainable

GOLDEN-AGRI RESOURCES (52 cents) – Still holding

- Immediate moves could actually be higher

- Rebound likely to be temporary

- Resistance at 56 cents

- Break below 52 cents indicate a target of 42 cents

FIRST RESOURCES ($1) – Poised for breakdown

- Support at $1 level

- Resistance is at $1.10

- Break below $1 indicates a target of 80 cents

OLAM INTERNATIONAL ($2.34) – Breaks down

- Resistance at $2.50

- Support at $2.24

- Break below $2.42 indicates a target of $2.08

(Source: TheEdgeSingapore May 24 2010)

Slow boat to China

COSCO CORP ($1.59) - Support should hold

- Prices are near support

- Support should hold

- Immediate resistance is at $1.62

C&O PHARM (45 cents) - Developing uptrend

- Support appears at 43 cents

- If stock's retreat holds at 43 cents, ensuing move could take price to 55 cents

CHINA XLX FERTILISER (56 cents) - At support

- A break above 59 cents indicate a target of 68 cents

- Downside looks limited and upside likely to be contained

CHINA NEW TOWN (12 cents) - Bottoming out

- Prices are trying to find support at current levels

- Resistance is at 14.5 cents

YANLORD PROPERTY GROUP ($1.68) - Conflicting signs

- Support is at hand

- Fundamentals are against a strong upmove

- Resistance is at $1.70

YING LI INTERNATIONAL REAL ESTATE (43.5 cents) - Less downward pressure

- Resistance has been established at 52 cents

- Does not look as weak as Yanlord

(Source: TheEdgeSingapore May 17, 2010)

Can offshore plays stay afloat?

EZION HOLDINGS (66 cents) – At support

- Prices need to move above 66 cents early this week

- If so, prices could go up to 72 cents

FALCON ENERGY GROUP (62 cents) – Breakdown

- Weakest of the offshore plays, based on relative strength

- Initially the break below 70 cents indicated a downside objective of 53 cents

- Prices have been in a downtrend since peaking last September

SWIBER HOLDINGS ($1.08) – Held by moving averages

- Prices are hanging to support at $1.08

- There is pretty good support at $1.0

- Resistance is at $1.10

EZRA HOLDINGS ($1.93) – Possible rebound

- Short term indicators have turned up, and this means that prices should rebound this week

- Resistance appears at $2.08

- Support is at $1.92

MERMAID MARITIME (63 cents) – Greater relative strength

- Prices are trying to find support at current levels

- Break below 60 cents is negative indicating a downside of 40 cents

- Resistance is at 71 cents

SBI OFFSHORE (27 cents) – Still intact

- In April prices broke out of resistance at 25 cents setting target of 33 cents

- Support is at 25 cents

- Prices are likely to ease in the short term

(Source: TheEdgeSingapore May 10, 2010)