Stocks at new one-year highs

LOW KENG HUAT (55.5 cents) – New 15 year high
- Prices are at new 15 year high
- Volume has surged with price
- Short term indicators are overbought
- Temporary retreat towards 54 cents should materialize

HO BEE INVESTMENT ($1.79) – Makes new one-year high
- Prices are at a new one-year high
- Counter could be a privatization candidate
- Prices are somewhat high and short term indicators are overbought

GUOCOLEISURE ($0.625) – Breaks out of base
- Prices have just broken out of neckline resistance
- Break looks good and indicates target of 72 cents
- Mooted as a privatization candidate

DEL MONTE PACIFIC (60 cents) – Forming a bull flag
- Temporary pause is underway
- Support should appear at 59 cents
- Current sideways move is likely to be brief and shallow

GUOCOLAND ($2.42) – Upclimb to resume
- Technically uptrend should continue
- Current sideways move appears to be a correction in an uptrend
- Break above $2.45 would lead to resumption in upclimb with objective of $2.65

CAPITALAND ($3.57) – Uptrend to continue
- Counter broke out of resistance at $3.50
- Quarterly momentum is positive
- Support appears at $3.50
- $4 is likely to provide formidable resistance

(Source: TheEdgeSingapore December 10 2012)

Commodity stocks remain weak

GOLDEN AGRI-RESOURCES (66.5 cents) – Start of base formation


- Temporary rebound is underway

- Chart pattern could start to resemble a base formation

- Support is at 60 cents


INDOFOOD AGRI ($1.25) – Finds support

- Prices found support at $1.19

- No signs of positive divergence

- Immediate resistance appears at $1.26


FIRST RESOURCES ($2.14) – Support holds

- Prices have bounced off $2 to $2.03 support

- Resistance is at $2.20

- Support at $2 to $2.03 could give way eventually

- Next support is at $1.90



NOBLE GROUP ($1.08) – Poised for breakdown

- Temporary rebound is probably over

- If thrice tested support area at $1.02 to $1.07 does not hold, downside target is 90 cents

- Break above $1.10 could negate the negative outlook



OLAM INTERNATIONAL ($1.56) – Relief rally

- Break below $1.61 indicates a downside of $1.44

- Resistance is a $1.61

- In the short term, oversold pressures should trigger another temporary rebound

- Eventually prices are likely to fall below $1.46



WILMAR INTERNATIONAL ($3.19) – Signs of bottoming

- Prices are attempting to establish a floor

- Attempting to move above 50 and 100 day moving averages

- Positive divergence between price and momentum since June

- Breakout is needed for divergence to confirm price upmove



(Source: TheEdgeSingapore December 3 2012)

Blue chips in temporary rebound

DBS GROUP HOLDINGS ($13.89) - Temporary rebound

- Prices are hanging on

- Resistance at $14 to $14.20 level

- There has been some selling with volume expansion as prices drifted lower

CITY DEVELOPMENTS ($11.28) - Bounces off 200 day moving average

- Resistance is at $11.50

- Break below moving average would cause a simultaneous break below support at $11

- Support at $10.30 to $10.50 level should stop decline

KEPPEL CORP ($10.55) - Temporary rebound

- Temporary rebound is underway

- There is a target of $9.80 indicated from the break below double top in October

- Trend remains downwards

NOBLE GROUP ($1.075) - Momentary bounce possible

- In the process of a temporary bounce

- Resistance likely to appear at $1.10

- Break below $1 gives downside of around 75 cents

OLAM INTERNATIONAL ($1.685) - Downtrend to continue

- Temporary rebound is unlikely to be sustained

- Resistance is lowered to $1.80

- Some support at $1.61 which is unlikely to hold

- Downside target is $1.44

SEMPCORP MARINE ($4.38) - Temporary rebound underway

- Resistance appears at $4.50

- Initial downside target of $4.20 has been reached and breached

- If November low of $4.11 is broken it will cause a measured move to the downside

(Source:  TheEdgeSingapore November 26 2012)