Tide turns for yards

YANGZIJIANG SHIPBUILDING (92.5 cents) - Challenging resistance
- Prices have broken out of base formation at 87 cents
- Break above the top indicates target of $1
- Support is at 92 cents
- Upmove was probably triggered by counter's dual listing in RMB

COSCO CORP (76.5 cents) - Breaks above minor resistance
- Technicals are improving
- Quarterly momentum has bottomed and is turning up
- These factors should support a price breakout
- Successful break indicates target of 86 cents

NAM CHEONG (27.5 cents) - Challenging 12-month high
- Rising quarterly momentum is hinting at strength
- Momentum looks set to strengthen further and could provide impetus for prices to break above 29 cents
- Break indicates upside of 34 cents

JES INT'L (14.6 cents) - Poised to break above minor resistance
- Prices have managed to hold above 50 day moving average
- If prices manage to hold above this level this week, they are likely to move higher
- Next resistance is at 16 cents

SEMBCORP MARINE ($4.49) - Forming a base
- Quarterly momentum has risen above its equilibrium line and continues to strengthen
- Prices have risen above its 200 day moving average
- Successful break above $4.55 indicates target of $4.90

KEPPEL CORP ($10.55) - Short-term weakness
- Technically this counter is probably weaker than other yards
- Quarterly momentum appears poised for  a retreat
- Prices will probably ease towards the low end of the range at $10.40

(Source:  TheEdgeSingapore July 29, 2013)

Interest returns to blue chips

DBS GROUP HOLDINGS ($15.74) - Facing resistance
- Prices are likely to face resistance at $16
- Bounce was triggered by upturn in short term indicators
- Quarterly momentum continues to decline
- Support is at $15.20

OVERSEA-CHINESE BANKING CORP ($9.82) - Rebounds off support
- Prices should rebound from support at $9.80
- Dead cross between 50 day and 100 day moving averages is likely to provide resistance
- ADX is falling, prices would at best trend sideways.

UNITED OVERSEAS BANK ($20.07) - Challenging resistance
- Prices have bounced off 200 day moving average
- Resistance is at $20.15 to $20.20
- May turn out to be a trading range for counter
- Decline would be temporary but upside remains limited

SINGAPORE TELECOMMUNICATIONS ($3.66) - Set to retreat from resistance
- Prices are attempting to form a base
- Break below $3.60 would trigger next leg of downmove
- If momentum breaks down and coincides with break below $3.60 counter could move below $3.50
- Resistance is at $3.80

ST ENGINEERING ($4.06) - At resistance
- Rebound phase is facing a hurdle
- Resistance is at $4.20
- Support is raised to $3.84

CITY DEVELOPMENTS LTD ($10.66) - Attempting base formation
- Counter managed to gain strength
- Resistance appears at $10.81 to $10.94 range
- Immediate support is at $10.50

(Source:  TheEdgeSingapore July 8 2013)

Minor candlestick reversals

ASCENDAS REIT ($2.18) - Temporary rebound from piercing pattern

-  May have a temporary rebound from one year lows

- Support has been established at $2.09

- Resistance is at $2.30

FRASERS COMMERCIAL TRUST ($1.345) - Uptick from minor hammer

- Indicators could trigger a minor rebound

- Resistance is at $1.38

- Trend will probably remain downwards

CAPITARETAIL CHINA TRUST ($1.405) - Respite from morning star

- Hints of a minor morning star developing

- Candlestick reversal will likely trigger a temporary bounce

- Support is at $1.32

- Resistance is at $1.45

MAPLETREE INDUSTRIAL TRUST ($1.305) - Temporary rebound

- Positive divergence should trigger rebound

- Resistance is at $1.38 to $1.40 range

- Indicators suggest that decline has yet to run its course

PARKWAY LIFE REIT ($2.30) - Downtrend to continue

- Prices have broken 200 day moving average

- Any rebound will likely be momentary and tenuous

- Resistance is at $2.35 and downside is at $1.95

SABANA REIT ($1.155) - Early-stage base formation

- Downtrend remains evident

- Stock appears to be establishing the $1.08 level as support

- Short term rebound may occur

- Upper boundary appearing at $1.18

(Source:  TheEdgeSingapore July 1 2013)