Index heavyweights push higer

HONGKONG LAND (US$5.28) – Developing an uptrend
- It has broken its 100 day moving averages and resistance levels
- As the uptrend develops, prices will be able to move well above US$6
- Support is at US$5.20 and US$4.94

DAIRY FARM (US$9.85) – Developing a gradual uptrend
- This counter is developing a gradual uptrend
- Breakout level is at US$10 and a successful break indicates a target of US$12.10
- Support is at US$9.50

JARDINE MATHESON (US$53.20) – Breakout at hand
- Prices are in good position to breakout
- Break above US$53 indicates an upside of US$61

JARDINE STRATEGIC (US$31.70) – Moves above resistance
- Prices are pushing ahead
- Resistance is at US$33
- Successful breakout indicates target of US$40

MANDARIN ORIENTAL (US$1.55) – Base formation
- Resistance/breakout is at US$1.60
- Break above US$1.60 indicates a target of US$1.90

JARDINE C&C ($50.14) – Peaking but uptrend intact
- Prices have been stuck at the US$49 to US$51 range
- Break above US$50 to US$51 would be positive. However indicators are not supporting this outcome

(Source: TheEdgeSingapore January 30 2012)

Greenback proxy plays

HONGKONG LAND (US$4.89) – Greater relative strength
- Resistance is at US$4.94
- Successful breakout indicates target of US$5.50
- Fail point of breakout is US$4.75

DAIRY FARM (US$9.78) – Developing uptrend
- Underlying trend is actually upwards
- Moving averages have made golden cross
- Breakout is at US$10
- Successful breakout indicates target of US$12.10
- Support is at US$9.50

JARDINE MATHESON HOLDINGS (US$49.69) – Entrenched sideways
- There are signs of strength
- US$49.50 to US$50 is likely to provide resistance in near term
- Expect sideway movements
- Support is at US$47

JARDINE STRATEGIC (US$29.68) – Moves above resistance
- May pause in its upmove
- Rebound is unlikely to turn into a sustained rally
- Resistance is at US$33

MANDARIN ORIENTAL (US$1.525) – Base formation
- Prices are in base formation
- Quarterly momentum has strengthened
- Prices are trying to move above US$1.51
- Support is at US$1.47
- Break above US$1.60 indicates a target of US$1.90

JARDINE C&C ($50.80) – Uptrend intact
- Prices are set to move higher
- Prices have moved above psychological mark of $50 setting a new upside of $57
- Support is at breakout level

(Source: TheEdgeSingapore January 9 2012)

Yield plays retain value

M1 ($2.41) – Entrenched sideways
- Support is at $2.35
- Prices could well remain within narrow range
- Resistance at $2.46

SBS TRANSIT (($1.70) – Continues to trend down
- Support is at $1.65
- Resistance is at $1.735
- Prices are unlikely to make much headway in the near term

SINGAPORE TELECOMMUNICATIONS ($3.10) – Greater relative strength
- This counter has greater relative strength
- Prices may not break above resistance at $3.27
- Support at $3.04

SINGAPORE PRESS HOLDINGS ($3.63) – At support
- There is ample support at $3.60
- Any recovery is likely to be slow
- Resistance at $3.79

ST ENGINEERING ($2.63) – Poised for breakdown
- Prices are at support at $2.65
- Break below $2.65 would indicate a target of $2.25
- Indicators support breakdown scenario

STARHUB ($2.89) – Sideways trend
- Probably the strongest of the telcos at present
- Support is at $2.85
- Prices are not likely to break above resistance at $2.92

(Source: TheEdgeSingapore December 19, 2011)