ST Eng
I like the look of it. The recent upmove is supported by good volume. Also, chart wise it seems like the move is still not exhausted and should have more room for further upside.
3.28 turn from resistance to support with 3.37 as the next resistance level. If 3.37 breach, I expect the counter to attempt 3.55 next.
Keppel Corp
After the strong recent upsurge (which took me by surprise in term of its strength), I believe it may have reached or will be reaching an exhaustion point even thou the RSI is only slightly overbought. However, the surge over the past few days is not really accompanied by good volume. In fact, volume seems to be tailing off which mean that buying may be drying up.
9.60 immediate resistance with next support at 9.50. Expect this to give way for counter to retreat to 9.25 - 9. 12 region. Here it may present good buying opportunity again.
Sembmarine
Showing similar pattern to Kepcorp. May have reached its exhaustion point. Looking toppish at 4.44 and may retreat to 4.25 region. Falling volume as in the case of Keppel Corp.
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ML is a licensed stockbroker with one of Asia Leading Stock Broker firm. To contact him, please email: icewolfmike@gmail.com
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