* Zelan (RM0.725, SELL) ? Barely holding above its 30-day SMA.
* SapuraCrest Petroleum (RM2.42, SELL) ? Hanging by a thread.
* Time Engineering (RM0.41, SELL) ? Unload on strength.
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Zelan (RM0.725) ? SELL
FY10P/E: N/A, P/BV: 0.6x

? The stock is barely holding above its 30-day SMA. This is a critical support and if breached, would have a negative implication on its short term outlook. Once the RM0.72 level is violated, next downside targets are RM0.67 and RM0.63.
? Even if there is a rebound, gains are likely capped at RM0.765. Only a strong run-up above RM0.80 with volume would negate our cautious view on the stock.
? Indicators are showing signs of exhaustion. MACD has staged a dead cross while its RSI is also dwindling towards the lower band of the neutral zone. Until prices inch past RM0.80, our strategy now is to sell into strength.

Zelan is an investment holding company. The company, through its subsidiaries, operates civil engineering and building turnkey contracting services.
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SapuraCrest Petroleum (RM2.42) ? SELL
FY10P/E: 18.5x, P/BV: 3.0x

? SapuraCrest is hanging by a thread now. Looking at its daily chart, the candle has just violated its uptrend channel. Currently, it is just holding a tad above its 30 & 50-day SMAs. If the RM2.40-RM2.34 levels give way, most probably the uptrend from March has ended.
? The bearish divergence on its MACD indicates that buyers are turning more
cautious now. Meanwhile, its RSI has begun to hook down again. Initial support is weak at RM2.34, followed by RM2.24 and RM2.12 next.
? Unless the stock can swing back above the RM2.50, we see any rebound as an opportunity to take profits. Our bearish view would be wrong if prices bounce above its recent high of RM2.58.

SapuraCrest Petroleum is an investment holding company. The company, through its subsidiaries, charters vessels, installs offshore platforms and marine pipelines, drills offshore oil wells, manages rigs.
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Time Engineering (RM0.41) ? SELL
FY10P/E: N/A, P/BV: 2.4x

? Time Engineering is testing its key support line. Although there is a slim chance that it might bounce back from here, we think the bulls need to be cautious now. As the 30-day SMA has cut below its longer-term 50-day SMA, follow through buying is likely to stay weak.
? Technical indicators look fragile at the moment. MACD has staged a negative crossover while its RSI is below the 50-neutral mark. If the support line fails to hold, the next downside targets are RM0.385 and RM0.365.
? On its upside, a rally above its key SMAs at RM0.435-RM0.44 will tone down the negativity of the stock. If this is the case, thenTime could swing higher towards RM0.47 next. Unload on strength is probably the best option.

TIME Engineering is an investment holding company. Through its subsidiaries, the company constructs and operates an independent open cycle gas-fired power station, supplies and sells electricity, and manufactures electrical switchgears.