********* Trading Buy: Ntegrator. Share price 0.067. (Rebounding on break above immediate resistance)

Ntegrator has just cleared the immediate 0.066 resistance. Likely to test 0.07 in the coming days. Strong volume seen today on this break up. A break above 0.07 can open the way to 0.075 to 0.077. Has consolidated about  a week below 0.066 only to see some strength on selected pennies again.

Stop loss at 0.063.

 

 

*********** Trading BUY: Nam Cheong. Share price 0.305. (More upside to new up phase if supported above 0.300)

Nam Cheong has been consolidating below the 0.300 for the whole year of 2013, only to break above it today on high volume and nearing 2014. As long as it stays above 0.300 now, it can be a new uptrend to a target of 0.32 to 0.35 in the short term. Note that it has been trading above the 200 DAY MA consistently since last year which signifies that the longer term trend is still pointing upwards. Upward sloping channel support line still intact as seen and support well. Possible to hold to ride the next phase upward. TOP 10 VOLUME seen currently on this breakout which shows interest and upward momentum finally.

 

 

 

Maybank KE – 11 December 2013

#SG O&M:  Maybank-KE maintains its Overweight outlook on the Offshore & Marine sector for 2014, with the house expecting offshore oil and gas activities to gain momentum as the industry gravitates towards the development phase.
Led by national oil companies with national agendas for energy security, spending is more secular than cyclical, and as spending percolates through the value chain, offshore construction, installation and subsea activities will pick up and in turn benefit the offshore shipyards and oilfield services players.
The house opines that the rig building industry is in the midst of a multiyear up-cycle, with strong demand for shallow-water jackups already evident, and US drillers such as Transocean have started to upgrade their fleet.
According to Wood Mackenzie, at least 95 additional deep-water floaters are needed from 2016 to 2022 to exploit discoveries in deep-water. As such, the house project a return in deep-water floater orders (particularly semi-subs) from 2014 as (1) utilisation rates have breached 90%, (2) day rates are rising, and (3) only four semi-subs are to be delivered beyond 2016
 The robust rig building activities underline the house view that the OSV market is poised for a cyclical rebound, as more rigs entering the water would fuel demand for support services.
Overall, the house top Buys in the sector are Sembcorp Marine, Nam Cheong, Ezion and Vard. Top Sells include CoscoCorp and Yangzijiang.

 

********* Potential upside on Breakout: Charisma Energy. Share price 0.064. (Range bound at the moment, lets see if the 0.066 can clear ?)

Charisma Energy has cleared the immediate resistance at 0.062 yesterday and stayed above today on top 5 volume. Current range would be from 0.062 to 0.066. Critical resistance can be seen at 0.066 which was the high set in Oct and also today’s high. A break above 0.066 can see it test 0.07 then 0.074 fast. Aggressive traders can consider entering on breakout for more short term momentum upside.

Stop loss at 0.059.

 

****** Testing Key resistance again: Mermaid. Share price 0.425. (More uspide ?)

Mermaid currently seen in TOP 20 volume is testing the key resistances at 0.42 to 0.43 which were the highs set in Feb and May 2013 before dipping. Clearing 0.43 would be a potential buy signal to 0.45 if it manages to stay above in the short term. A break above 0.45 will it at about a 3 year high which can see it got to 0.500 fast.

Stop loss at 0.39.

 

 

********** Trading Buy: Noble Group. Share price 1.11. (Broke resistance at 1.10 after a month, more upside likely)

Noble Group has consolidated below 1.10 for about a month and has broke up today on TOP 5 volume. This can signal a new momentum upwards to 1.15 then 1.20 resistance level. Support at 1.10 now. More upside in the short term if support holds.

Stop loss at 1.085

 

******** Potential upside on breakout: Golden Agri. Share price 0.600. (Can it stay above 0.600 ? )

After trading below Critical 0.600 since March this year, Golden Agri has finally broke above the key 0.600 resistance level last Friday and manage to stay above today. Support would be at 0.600 now. Can be a positive short term play to 0.65 then 0.68 level as long as 0.600 holds as new support. Can see strength in this counter as most commodities counters rises on market strength.

Stop loss at 0.585.

 

 

******* Trading Sell: HL Asia. Share price 1.385. (Broken down 2 year support)

HL Asia has traded above the 1.40 support level since Oct 2011 but we have seen it break below today. Has been forming lower lows since the beginning of the year and has attempted again to stay above 1.40 since September 2013. More downside can be possible if it does not climb back above the 1.40 critical resistance level now. As long as 1.40 is a new resistance formed, we are midterm bearish with downside to 1.20 or even 1.00.  CFD trading SELL to hold on to sell positions.

Buy stop at 1.43

 

******** Trading Sell: HPH Trust US$. Share price 0.71. (Broke 0.72 support finally)

HPH Trust has stayed above the 0.72 support level since Sept 2012 but has broken down this support over the past few days. Likely to head lower to 0.70 then 0.68 level support on weak market. Double top formation seen with resistance at 0.800 can be seen which can also signal some weakness forming. As long as 0.72 is a resistance and it stays below it, bearish in the short term still.

CFD Buy stop at 0.735

 

******** Broke Critical Support: Rex. Share price 0.68. (Cautious Sentiment - more downside likely)

Rex has broken below the 0.700 critical support after staying above it for more than 3 months since August. Next support at 0.65 then 0.600. As long as 0.700 is a new resistance level, more downside can be possible. Can consider CFD short positions to ride any downside. A slight head and shoulder pattern formation with breakdown of neckline support at 0.700 seen also which can be a bearish signal.

 

******* Trading Buy: Genting HK. Share price 0.465. (Broke out of consolidation phase on TOP 10 volume, can it stay above now ? )

Genting HK has been trading in the range of 0.38 to 0.46 for about 4 months since June 2013 and finally today we have seen some interest on top volume attempting a breakout. If it manages to stay above 0.45 to 0.46 support level in the coming days, more upside can be possible in the short term to 0.500 then 0.52. Recent high in May was 0.52 before it came all the way down to 0.38 in September fyi. RSI indicator has been slowing rising since 2 days ago but it still not in over bought position, so more upside momentum can still continue if 0.46 resistance turned support holds.

Stop loss at 0.44 for short term trades.

 

 

 

UOBKH – 20 September 2013

 

******* Trading Upside: Courts Asia. Share price 0.82. (Breaking out of consolidation phase)

Courts Asia has staged a Double bottom consolidation for the past 2 months with bottom seen at 0.71 before rebounding again. Has cleared the 0.800 resistance 2 days back and still manage to stay above it for today. Possible to see more uptick continue to 0.85 then 0.89 on this breakout momentum. As long as 0.800 is a support, we are short term bullish with a stop loss at 0.785 in the case of a downside retracement again.

 

 

 

Maybank KE – 20TH September 2013 Courts Asia - Softening Consumer Sentiment Priced In (Buy, TP $1.15, COURTS SP, Retail)

�           Courts Asia has seen its share price slump 24% in the past three months, vs 15% for its regional peers. Its share price is now 3% below the IPO price. �           Mindful that retail spending may be softening, upcoming subsidy rollbacks in Malaysia impacting consumer discretionary spending and closure of GEM temporarily; we lower our FY3/14F-16F earnings estimates by 8-15% and cut our TP to SGD1.15, pegged at a lower multiple of 14x (previously 16x). �           Despite the cut in TP, we reiterate our BUY call on Courts, based on attractive valuations at 9x FY3/14F PER, proactive measures to tighten credit approvals and positive growth engines in the pipeline.

 

 

********** Potential Breakout Play: Nam Cheong. Share price 0.29. ( When will it break above the KEY 0.300 resistance ? )

Following up from call made on 30^th September 2013. Nam Cheong has still not been able to break above the Critical 0.300 resistance level. This would surely be a KEY level to watch. Those who have the holding power can consider holding some long positions in wait for the breakout. Mainly a buy on Breakout play if the 0.300 till 0.31 clears out completely. A break above 0.300 can result in a NEW UP PHASE again and target would be 0.34 to 0.36 in the near term. Can consider averaging up on the breakout from 0.305 to 0.31. Note that since April 2012, it has also been consistently trading above the 200 DAY MA (Dotted blue line) which can also signal that the uptrend in the longer term is still very much intact. Critical resistance is seen crucially at 0.300 currently where there are huge Sellers stacks. After 0.300, sellers are min. It may continue to consolidate for no idea how long below the 0.300, so this is mainly a Buy on Breakout play if the 0.300 critically clears out.

Stop loss at 0.28 for Long Positions on breakout.

 

Maybank KE – 23^RD Oct 2013

Nam Cheong: Risk Taker Sees Rewards; Initiate BUY, TP $0.37

Ø  Initiate BUY and TP of SGD0.37, pegged to 9x PER on average FY13-15F EPS. We see Nam Cheong benefiting from (1) a recovering Offshore Support Vessel (OSV) market, (2) OSV replacement cycle, (3) Petronas’ Oil & Gas capex and (4) its foresight in reading the supply-demand dynamics of the sector.

Ø  Nam Cheong has demonstrated a strong ability to read market demand with a track record of selling all build-to-stock vessels before delivery. 2014 shipbuilding program is a big ramp-up over 2013 and it has already sold 57% of the 2014 vessels. Outstanding orderbook stands at MYR1.7b. We expect the company to deliver 16% EPS CAGR over FY13-15F as vessels in its ramped-up newbuild programs are readily absorbed by the market.

Ø  At current share price, stock is trading at only 6.1x/6.6x FY14F/15F PERs, inexpensive considering the robust growth prospects, higher ROEs and shipbuilding margins. We also see possibility of higher dividend payout in FY14F translating into a yield of about 5%.

 

 

********** Trading Buy: Midas. Share price: 0.51. (Can it stay above 0.500 now ? , if yes next target to 0.55 then 0.58. )

Midas has been trading below the 0.500 support turned resistance level for about 2 months since Aug 2013. Has staged a strong breakout yesterday above the critical 0.500 psychological level and today we have seen it stay above with TOP 20 volume seen still. As long as 0.500 remains as new support level, we are short term bullish with a  target at 0.55 then 0.58. Might consolidate within the 0.500 to 0.52 range before pushing higher further on momentum.

Stop loss at 0.485 for short term trades

 

OCBC – 22 October 2013

Midas Holdings: Awaken the sleeping giant
Following last week’s CNY221.8m international train and China metro contract wins, Midas Holdings (Midas) announced last evening that it has secured contracts to supply aluminium alloy extrusion profiles and certain fabricated parts for the manufacture of high-speed trains in China. These contracts are worth CNY167.5m in total, with delivery expected from 2013 to 2014. Total YTD order wins for Midas has now hit ~CNY812.6m (FY12: CNY324.9m). We view Midas’ latest high-speed train contract success as a strong re-rating catalyst for its share price given that its last high-speed contract win came in Feb 2011. We believe this may also set the momentum for further such contract wins to come, given China’s ambition to develop its rail transport sector. Maintain BUY and S$0.65 fair value estimate on Midas, based on 1.3x blended FY13/14F P/B.

 

Maybank KE – 10 September 2013

Midas Holdings: The Catalyst Worth Waiting For Is Here; Buy, $0.475 - TP $0.75

Ø  Last weekend, China Railway Corp (CRC) announced the result of its first high-speed train tender in past two years. A total of 159 train sets order have been split between CSR (108 train sets) and CNR (51 train sets).We believe this is just the beginning of a new train purchase cycle by Chinese government. Remain positive on Midas. Maintain BUY with TP SGD0.75.

Ø  We expect Midas to win around RMB250-300m supply contracts in high-speed train space this year. But it is very small compared to what we are likely to see in FY14/15. We expect Midas’ order book to reach RMB1.5b in FY15 onwards.

Ø  Historically Midas’ P/B closely followed its order book, which makes us believe that currently undemanding P/B multiples deserve a re-rating if order book could be substantially boosted to RMB1b or above.

 

 

 

**********Monitor closely for break above KEY Resistance: Biosensors. Share price 0.985. (Can the Critical 1.00 clear? if yes, Long it )

Following up from Buy call made on 4^th September 2013. Biosensors has indeed traded higher and consolidated below a new resistance at 0.98 for more than a month till now. Have seen it test this 0.98 today and kind of clear it with a high of 0.99 as of now. More buyers Likely to come in on the BREAK of critical 1.00 psychological resistance level.  Huge resistance seen at 1.00 at the moment but after that sellers are limited. Aggressive traders can consider getting in some long position in wait for breakout. A break above 1.00 can trigger a bullish acceleration to 1.05 and 1.10 fast.

Stop loss at 0.97

 

 

********** Trading BUY: Genting SP. Share price 1.505. (Broke CRITICAL 1.50 AFTER a month, more upside possible)

Genting Sp has consolidated between the 1.40 to 1.50 range for about a month already only to break above today on TOP 20 volume. Possible upside to 1.55 then 1.65 in the near term on this breakout. As long as 1.50 stays as new support level, short term bullish. Recent high in Feb and May 2013 was around the 1.65 level so we can expect to see a possible rebound back to those level if it manages to stay above 1.50.

Stop loss at 1.485 for short term trades.

 

 

 

******** Trading Buy: Indo Agri. Share price: 0.86.( Rebounding along with commodities counters? )

Indo Agri has just crossed above the 0.85, 0.855 immediate resistance level which it has been consolidating below for more than 2 months already. Yesterday we have seen it test the 0.825 and cleared it convincingly only to see the momentum continue further today on the break of 0.855. As long as 0.85 is a support, a rise towards 0.90 and 0.95 seems likely, a break below 0.85 will open the way back to 0.825 level. Technical indicator RSI has been slowing rising in line with the breakout seen which can signal more momentum.

Stop loss at 0.835 for short term trades.

 

 

 

******** Rebounding back up: Noble Group. Share price: 1.035. (More to come ? Let's see if the 1.05 can be cleared convincingly )

Following up from Buy call made last month on 12^th September 2013. Noble group has indeed consolidated awhile only to break above its temporary resistance and trading higher again on rebound. Likely to see more upside if the next resistance at 1.05 gets tested and broken again. This level also coincides with the 200 DAY MA (Long term moving average) which can also signal a change in trend to the upwards direction. A break above 1.05 can see it test 1.10 then 1.16 which was the high in May 2013. As long as 1.00 remains as new psychological support, we are bullish in the short term and will continue to ride the rebound.

Stop loss at 0.99

 

********* Potential Breakout Seen: China Env. Share price 0.600. ( Can the 0.600 clear out Convincingly? )

Following up from Buy Trading call on 1 Oct 2013. China Env has consolidated above the 20 DAY MA (Green line) despite market weakness for the past 3 weeks. 0.600 remains as critical resistance to cross above before more upside can be seen. More on a aggressive buy on breakout play if the 0.605 and 0.61 level clears out. Possible target to 0.65 and 0.700 then.

Stop loss at 0.58 for long positions on breakout.

 

********** Trading BUY: OKH Global. Share price 0.765. (Broke immediate 0.76 resistance on pennies strength)

Following up from BUY Trading call on 10 Oct 2013. OKH has just broken above the immediate 0.76 resistance as mentioned in earlier post. Has been consolidating below the 0.76 level for more than a month till today and attempted a breakout several times but failed.  More upside can be possible now on this breakout, pennies strength and more positive sentiment in the small caps market. As long as 0.75 holds as new support level, we are short term bullish with a target to 0.78 and 0.80. A break above 0.80 can pave the way to 0.84 and 0.90.

Stop loss at 0.735 now. Those with previous long positions can raise their stop loss level to protect your profits.

 

********* Trading BUY: GLP. Share price: 3.02. ( New uptrend above 3.00 going forward...... )

GLP has been trading in the range of 2.60 to 3.00 since March this year and we have see it broke above the KEY Psychological resistance level at 3.00. Currently at an all time high at this level but upwards momentum can continue in the short term on this breakout. Possible to head to 3.10 to 3.20 level before consolidating and pulling back on profit taking. As long as 3.00 is a support, we are short term bullish and will continue to ride on momentum.

Stop loss at 2.96 for short term trades

 

NEWS – 24 September 2013

-- GLP: Signs deal with Vipshop, a Chinese e-commerce firm, to develop 130k sqm of new facilities at GLP Park Dianshanhu II in Kunshan. Construction of 1st phase spanning 60k sqm started last mth. Vipshop also expanding 12k sqm in existing facilities at GLP Park Dianshanhu. The new leases make Vipshop one of GLP's top 10 customers.

 

CIMB - 19 September 2013

Property - overall - Tapering delayed, so now what?  
The US Fed has postponed the tapering of monetary stimulus and this will have a positive near-term impact on S-REIT share prices. But we note that interest rates remain on an upward bias, and an aggressive investment stance on S-REITs may not be wise. We remain selective. Developers, another interest-rate sensitive sector, could be a better bet. We remain Overweight on developers, preferring stocks with less residential and more diversified exposures. UOL, CapLand and GLP remain our key picks. We remain Neutral on S-REITs but highlight AREIT and SUN as our top picks to benefit from this positive event. S-REITs that de-rated the most in the last three months could also rebound the most. These include KREIT, CDLHT and FCOT.

 

 

 

********* New up phase for Semb Marine ? Share price 4.62. (Finally broke above the 4.60 after 8 months)

Semb Marine has been consolidating from the 4.10 to 4.60 level for about 8 months, finally today we have seen it test the CRITICAL 4.60 Resistance level and stage a breakout. More confirmation needed for it to stay above this new 4.60 support level in the coming days. High in Jan this year was about 4.85 so likely to head to 4.75 to 5.00 level if 4.60 manage to hold. Trading range might be from 4.60 to 5.00 on more market strength and contract wins. Most analyst are bullish on this counter as seen below.

Stop loss at 4.56 for short term trades

 

 

CIMB – 23 September 2013

 

DMG – 13 September 2013

 

********* Trading BUY: YHM. Share price 0.066. (Broke immediate 0.065 resistance on Top 2 volume today)

Following up from Last Friday Trading BUY call made. YHM has consolidated briefly below 0.065 before breaking above it today on TOP 2 volume again. Has been below this 0.065 resistance for about 3 weeks so any upside breakout and can signal more upward momentum in the short term. Went briefly below the 20 DAY MA last week on pennies market weakness only to rebound above it the next day strongly.

As long as it holds above 0.065, a rise towards 0.070 then 0.074 (high in September) seems likely.

Stop loss at 0.062 nevertheless.

 

****** Potential Breakout: Yangzijiang. Share price 1.185. ( Testing the 1.20 soon......)

Monitor closely for a Potential breakout for Yangzijiang above the Critical 1.20 Psychological resistance level. A break above the level can see it go to 1.26 to 1.30 fast which was the high seen in March last year. Aggressive traders can consider entering some long positions in wait for the breakout and average up on this break.. Currently at TOP 5 Volume while making this attempt. Consistently above the 20 day MA (Green line) since the break above 0.98 level last month which shows that upward momentum still intact in the short term, even market  weakness last week has seen it rebounded fast on any pullback. Huge sellers at 1.20 at the moment but after that its free to go and we can expect to see buyers coming in if resistance clears out.

Stop loss at 1.18 for long positions on this breakout.

 

UOBKH – 10 Oct 2013

 

 

******** Accumulate on Dips: Starhub. Share price 4.31. ( Resistance at 4.40 strongly) REPOST - HAVE BROKEN up above the 4.40 resistance level NOW 4.45

REPOST – HAVE BROKEN up above the 4.40 resistance level, more upside can be possible as mentioned below

 

 

Posted 14 Oct 2013 (Monday) - Starhub has been trading consistently above the 20 DAY MA ( Green Line) for about a month and has rebounded upwards every time it nears this support. Current support at 4.30 which also coincides with this short term support line. Likely to consolidate from 4.30 to 4.40 within the next few days with resistance strongly at 4.40. This was the high set in Aug also which is attempted but failed to break. Can consider accumulating this defensive counter on market weakness and wait for the break of 4.40. For longer term investment, can buy more on dips below 4.15 level. A break above 4.40 can see it potentially go to 4.60 then 4.80 where profits can be taken first.

 

Maybank KE – 21^ST August 2013

StarHub: Green Is The New Gold; Upgrade to Buy TP $5.13
Ø  Upgrade to BUY. We think margin guidance is too conservative and StarHub can do better, especially if iPhone 5S disappoints. Also, now that BPL cross-carriage is sorted out, we think Pay TV subscribers losses will reverse as early as 3Q13. Ø  We also like the new CEO’s enterprise-oriented strategy to drive future growth and margins. Mr Tan wants fixed network services to be the second largest contributor (now 15%) after mobile (50% of revenue), given that enterprise margins are higher than consumer.Ø  The stock is now a BUY with a Street-high TP of SGD5.13. Our DCF-based TP has been raised following 3-7% upward revisions to FY13-15 forecasts and a higher terminal growth rate.

 

 

******* Accumulate on Dips: Starhub. Share price 4.31. ( Resistance at 4.40 strongly)

Starhub has been trading consistently above the 20 DAY MA ( Green Line) for about a month and has rebounded upwards every time it nears this support. Current support at 4.30 which also coincides with this short term support line. Likely to consolidate from 4.30 to 4.40 within the next few days with resistance strongly at 4.40. This was the high set in Aug also which is attempted but failed to break. Can consider accumulating this defensive counter on market weakness and wait for the break of 4.40. For longer term investment, can buy more on dips below 4.15 level. A break above 4.40 can see it potentially go to 4.60 then 4.80 where profits can be taken first.

 

Maybank KE – 21^ST August 2013

StarHub: Green Is The New Gold; Upgrade to Buy TP $5.13
Ø  Upgrade to BUY. We think margin guidance is too conservative and StarHub can do better, especially if iPhone 5S disappoints. Also, now that BPL cross-carriage is sorted out, we think Pay TV subscribers losses will reverse as early as 3Q13. Ø  We also like the new CEO’s enterprise-oriented strategy to drive future growth and margins. Mr Tan wants fixed network services to be the second largest contributor (now 15%) after mobile (50% of revenue), given that enterprise margins are higher than consumer.Ø  The stock is now a BUY with a Street-high TP of SGD5.13. Our DCF-based TP has been raised following 3-7% upward revisions to FY13-15 forecasts and a higher terminal growth rate.

 

 

******** Rebounding back up more: YHM. Share price 0.061.

Following up from previous Buy call made on Wednesday. YHM has broken out of the 0.056 resistance level faster than expected and traded higher. Current trading range would be from 0.060 to 0.065. Likely to consolidate within this range or lower above the next support at 0.056 before more upside. A break above 0.065 can see it go to 0.070 then 0.074 fast which was the high set last month. Quite a strong rebound seen after the whole designated counters debacle. As long as it stays above 0.060 psychological support, more short term upside in placed.

Stop loss at 0.058 for long positions now.

 

 

NEWS – 30 September 2013

 

******** Trading Buy: Mermaid. Share price 0.37. ( More upside potential seen)

Mermaid has been trading below the 0.36 resistance level for about 4 months only to convincingly break above today on high volume with a high at 0.38 touched. At this level, you can see that it has also just crossed above the 200 DAY (Long term MOVING AVERAGE) which can also signal a change to upward trend. Target to 0.40 then 0.42 in the near term. High set in May was 0.42 so we can potentially see it attempt to touch this level again. As long as 0.35 stays as new psychological support level which is also the 200 DAY MA support, bullish in the short term.

Stop loss at 0.34.

 

********** Still holding strongly: OKH Global. Share price 0.745 (Holding firmly above 0.700 despite pennies weakness)

OKH has been consolidating strongly from 0.700 to 0.76 for about a month already. Despite market weakness in pennies over the past few days, we have seen it still trade above key support level at 0.700 before bargain hunters come back in. Can consider accumulating on dips near 0.700 support level for any potential rebound back up. Resistance at 0.76 critically, a break above this can pave the way to 0.80 fast. Aggressive traders can average up on the breakout of 0.76 if the 0.765 and 0.77 clears out.

Stop loss at 0.69 strictly.

 

******** Accumuate on dips at a Bargain: YHM. Share price: 0.053. (Consolidating at the lower end now)

YHM has since traded down from a high of 0.074 touched last month on weak market sentiments on pennies over the past few days. Like to consolidate from 0.048 to 0.056 in the coming days as the market stabilizes for pennies and when we can to see people start to bargain hunt at a much lower price. Consider accumulating when it near support at 0.048 to participate in any rebound when market recovers. A good time to accumulate pennies which were dragged down but has nothing to do with the 3 designated counters.

Stop loss at 0.046

 

********** Potential Rebound: Mirach Energy. (Possible to rebound back up to 0.400 then 0.44)

After the huge sell down seen last week, we have seen pennies slightly stronger and rebounding of their lows. Mirach has just crossed above immediate resistance at 0.32 level which was also the high of yesterday. Next resistance at 0.35 then 0.40. Can consider for a short term trade back up for any rebound like that seen in August 2013 for Mirach. As long as 0.32 remains as support, still bullish in the short term.

Stop loss at 0.31

 

 

******** Trading Sell: Interra Resource. ( Has broken the 0.43 immediate support and 0.415 support level)

Interra Res has broken below the 0.43 immediate support level which held for about 3 months. Even the 0.415 support in March 2013 was tested and broken down on overall weak market sentiments. Pennies still reeling from 3 designated counters by SGX. Next psychological support at 0.400 currently, this should hold and might see a technical rebound from this level if market strengthen. However, more downside is possible to 0.35 - 0.36 level if it breaks down and sellers take it lower further with 0.395 AND 0.39 being sold off. Lower highs formed since Jan this year from downward sloping line – a slight general 10 months descending triangle formation seen.

Buy stop at 0.43 for Short positions.