Blue chips attempt rebound

FRASER & NEAVE ($7.30) - Breaks out

- Earlier break above moving averages negated the downtrend

- Quarterly momentum has also moved above its own moving average

- Move above $6.90 indicates an objective of $7.50

JARDINE CYCLE & CARRIAGE( $48.88) - Breaks out of downtrend

- Prices moves out of downtrend indicating objective of $51

- Quarterly momentum has moved above its equilibrium line

- Support is at $46

JARDINE MATHESON (US$51.28) - Breaking out of resistance

- Prices have just moved above 100 and 200 day moving averages

- Break has yet to be supported by quarterly momentum

- If quarterly momentum breaks above equilibrium line it could trigger a price breakout with objective of $54.50

SEMBCORP INDUSTRIES ($5.27) - Breaks out

- Quarterly momentum is turning up

- Prices are inching above resistance level at $5.16 to $5.20

- Break above resistance level indicates an objective of $5.80

SINGAPORE TELECOMMUNICATIONS ($3.36) - New high

- Trend has finally resolved on the upside

- Prices are at a new high

- Breakout indicates target of $3.50

- Support is at $3.20

WILMAR INTERNATIONAL ($3.68) - Base formation

- Prices are beginning to form a base

- The top of the base is at $3.78

- ADX and DIs indicate that the worst of the decline is over

- Eventual break above $3.78 indicates an upside of $4.30

(Source: TheEdgeSingapore July 9 2012)

Blue chips attempt rebound

CITY DEVELOPMENTS ($10.71) - Breaks out of resistance

- Minor recovery phase is not over

- There is a target of $11.44 near resistance at $11.47

- Volume did not expand as price broke out

SINGAPORE AIRLINES ($10.24) - Starting base formation

- Prices have managed to find support near $10

- Prices may remain sideway

- Resistance/breakout is at $10.40

SINGAPORE EXCHANGE ($6.40) - Testing top of minor base

- Prices are at the neckline

- Quarterly momentum has recovered

- Resistance is at $6.41

- Support is at $6.05

DBS GROUP HOLDINGS ($13.75) - Challenging resistance

- Prices have moved above resistance

- Quarterly momentum is attempting to recover

- Follow through movement may meet constraints

OVERSEA-CHINESE BANKING CORP ($8.78) - Attempting breakout

- Prices are in recovery phase

- Resistance is at $9

- Overall there is no clear uptrend

- Resistance between $9 to $9.30

UNITED OVERSEAS BANK ($18.10) - Breaks out of minor base

- Quarterly momentum has cleared resistance

- Upmove is unlikely to be sustained

- Resistance is at $19

(Source:  TheEdgeSingapore June 25, 2012)

Situational plays attract interest

AMARA HOLDINGS (34 cents) - Rebound in a downtrend

- There is no reversal of downtrend

- Prices are likely to move below support at 34 cents

- Earlier break below double top at 37 cents indicates target of 29 cents

- Resistance is at 37 cents

GUOCOLEISURE (58.5 cents) - Poised to break above moving average

- Rebound is underway

- Break above 60 cents would provide impetus to test 66 cents

- Support is at 54 cents

HO BEE INVESTMENT ($1.12) - Downtrend intact

- Range is likely to be quite tight

- Resistance is at $1.15

- Support is at $1.08

HOTEL GRAND CENTRAL (74 cents) - Attempting upturn

- White candle may provide prices with some upward momentum

- Current moves are liley to be a rebound in a downtrend

- Resistance is at 78 cents

- Support is at 74 cents

HOTEL PROPERTIES ($1.885) - Attempting breakout

- Prices are attempting to move above $1.91

- Resistance is at $2.02 and break above this level indicates upside of $2.34

- Support is at $1.88

POPULAR HOLDINGS (19.7 cents) - Uptrend intact

- Support for the decline is at 19.5 cents

- Technicals confirm the corrective phase

- Break below 19.5 cents indicate a downside of 16 cents

(Source:  TheEdgeSingapore June 18, 2012)