Chart[31] - Counters hitting support/resistance

DBS:Market strongly believe interest rate hike is around the corner. US banks broke 2016 high over past few weeks. Local banks tracked the pace as well. DBS saw strong buying volume on early November. Two resistances, 16.38 and 16.83 were broken. Next stronger resistance is around 17.86. Volume has been falling last few trading days. Correction might kick in. Similar scenario could be refer to end of Feb this year as highlighted below. Interestingly, this was first week that DBS being traded above its book value (~ 16.8) this year. Its 'recovery' came latest among its peers.

OCBC: The counter has been range bounding between 8.3 to 9. Volume was growing since mid Nov, and price is edging towards 9. Shall it be broken, next resistance is ~ 9.28.

UOB: The counter is near to its 2016 peak ~ 20. Price movement is in sync with its peers, but volume suggests otherwise.

SingTel: The counter strongly rebounded from support, 3.6 with significant trading volume. Immediate resistance is 3.8, followed by 3.94. Interestingly, SingTel issued shares placement to Temasek for fund raising. Each share was issued at $4.16 Current price looks undervalued on such comparison.

Chart[30] - Global Invacom

The counter saw heavy buying interest on last trading day. Resistance price 0.177 was broken, next resistance is 0.215. Similar accumulation activities happened on early and mid October as highlighted below. Buyer could be in action again.

*** Note: Same counter has been mentioned in Chart[15] @ 2016 ***