Indicators turn positive for index components

DBS GROUP HOLDINGS ($16.30) - Moving averages turn positive

- Longer term chart looks positive

- Following break above $15.60 and $16, counter has confirmed a break above a major base formation

- Support appears at $16

- Directional movement should support the uptrend

OVERSEA-CHINESE BANKING CORP ($8.98) - Moving averages strengthen

- Prices are testing a resistance area

- A breakout is a matter of time

- Any retreat should be shallow with support at $8.75

- Successful break above $9 indicate a target of $11

UNITED OVERSEAS BANK ($19) - Attempting to strengthen

- Counter has slightly less relative strength than the sector

- Prices are near a resistance area at $19 to $19.17

- Prices may ease towards $18.50

- Successful breakout provides objective of $20.70

SINGAPORE TELECOMMUNICATIONS ($4.23) - Upmove pauses

-  Immediate support is at $4.20

- If prices can hold, they have a better chance of forming a bull flag

- For this to materialise,  prices have to break above $4.32 in the next two session

- A successful break above $4.32 indicates a target of $4.67

KEPPEL CORP ($5.58) - Challenging breakout point

- Prices have been largely trading within a range since May

- Prices are likely to remain entrenched in a narrow range

- The level to note is when it moves above its 200 day moving average

- Breakout would provide a measuring objective of $6.30 initially and $7 subsequently

WILMAR INTERNATIONAL ($3.11) - Moving averages turn negative

- Before the price breakdown, the 50 and 100 day moving averages had already turned negative

- If break below $3.17 level is sustained, a measuring objective of $2.59 is indicated

- Downside would be invalidated if prices regain the $3.17 level

(Source:  TheEdgeSingapore July 25 2016)

Pockets of strength among index components

DBS GROUP HOLDINGS ($15.94) - Challenging resistance

- Prices have cleared a confluence of resistances at $15.60 which should provide support in event of retreat

- Break above $15.60 indicates an eventual target of $18.44 but this is unlikely in near term

- Prices may halt at $16 to $16.06

UNITED OVEREAS BANK ($18.28) - Facing immediate resistance

- Prices are challenging resistance at $18.40 to $18.50 range

- Quarterly momentum is in a downtrend

- Prices are likely to stay within a range

- Support is at $17.91

SINGAPORE EXCHANGE ($7.43) - Testing support

- Resistance appears at $7.70

- Overall there are pockets of weakness

- Support appears at $7.42

- Break below support indicate a downside of $6.70

OVERSEA-CHINESE BANKING CORP ($8.58) - Attempts to strengthen

- Prices have been unable to move above resistance at $8.60 to $8.70

- Prices are likely to stay within sideways range

- Prices need to break above $8.70 to indicate a new upside

- Support is at $8.48

SINGAPORE TELECOMMUNICATIONS ($3.87) - Attempts to gain strength

- Main trend appears to be sideways

- Top end of the trading range is at $3.97

- Short term indicators are likely to support prices

- Once prices approach $3.97 to $4 they could turn down

- Support is at $3.76

(Source:  TheEdgeSingapore June 27 2016)

Property stocks continue downtrend

HO BEE LAND ($2.26) - Uptrend intact

- Counter has outperformed its sector

- Consolidation should be followed by a further upmove

- Support is at $2.23 to $2.25

- Earlier break indicated a target of $2.45

UNITED ENGINEERS ($2.22) - Signs of weakness

- Price action points to weakness ahead

- Directional movement has turned up and directional indicators have turned negative suggesting lower levels

- Immediate support is at $2.11

-

OUE ($1.525) - Downtrend persists

- Quarterly momentum is in steep retreat

- Immediate downside is at $1.44 to $1.46

- Indicators suggest that immediate downside is limited

- Prices could rebound but range will probably be narrow with resistance at $1.56

BUKIT SEMBAWANG ESTATES ($4.60) - Limited upside

- Short term trend is likely to continue downwards

- Support appears to have been established at 200 day moving average currently at $4.51

- Indicators may trigger a rebound shortly

- Resistance is at $4.70

WHEELOCK PROPERTIES ($1.445) - No rebound yet

- Prices have fallen below moving averages suggesting further weakness

- Prices could retest its January low of $1.36

- Prices are unlikely to fall below $1.36 and should rebound at the first signs of demand

- Resistance is at $1.49

GLOBAL LOGISTIC PROPERTIES ($1.78) - Limited downside

- Indicators suggest that prices are likely to trend lower from current levels

- Immediate support is at $1.73 but this may not hold

- $1.63 is likely to provide substantial support

(Source:  TheEdgeSingapore June 20 2016)