• The stock broke below its short term uptrend channel and has been tradingsideways since then. The breakdown also suggests that the longer termdowntrend has resumed. Resistance is at S$0.30 and S$0.33.
• Its MACD just confirmed its dead cross while RSI has hooked down afterfailing to climb above its trend line.
• On the most bearish case, the stock could fall below the S$0.165. For now,S$0.26 and S$0.21 could be tested soon. Since it is trading below its 30-daySMA, investors would likely do well selling on strength.
Golden Agri-Resources Limited cultivates, harvests, processes, distributes, andsells crude palm oil and palm kernel. The Company also refines crude palm oilinto cooking oil, margarine, and shortening for sale and distribution.
Hongkong Land Holdings (HKL SP; US$1.87) – SELL
• Has dropped below its consolidation triangle support at US$2.00. Thedownside break could induce further selling on the stock with the next supportat US$1.78 and US$1.50.
• Both MACD and RSI have turned negative, suggesting that the sellingmomentum could be picking up.
• Resistance is seen at US$2.00 and US$2.20-2.25.
Hongkong Land Holdings Limited invests in and develops commercial properties.The Company owns and manages prime office and retail space in Hong Kong.Through its subsidiaries, the Company also develops commercial and residentialbuildings as well as infrastructure in Asia.
Fraser & Neave (FNN SP; S$2.04) – SELL
• The stock fell to a new 52-week low yesterday. The next strong support is atS$2.00 and S$1.70.
• Indicators continue to portray weakness but the oversold RSI could prompt aminor rebound.
• A minor rebound could take place soon. Sell on rebound towards the S$2.20and S$2.35 resistance levels.
Fraser and Neave Limited produces and sells soft drinks, beer, stout, dairyproducts, and glass containers. The Company also operates publishing andprinting businesses and develops and invests in properties.
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