Keppel Corp Stock Code BN4.SGX
Outlook
Price reached a high of $6.97 after breaking out of a Inverse Head and Shoulder chart pattern back on 2nd of April. In the past few days, price has been declining from the high of $6.97 to current low of $6.67. We believe this decline is just a correction and the uptrend is still intact. Price is currently above the cloud and the Base line. A decline to the Base line could offer a buying opportunity. The Fibonacci 50% correction point of the rally from $6.07 to the high of $6.97 comes in at $6.52, while the Base line is at $6.55. A gap support comes in at $6.47. We think price support zone of $6.48 to $6.52 is a good area to get into the uptrend for a move to $6.97 again. MACD is still bullish and could be turning up again.
Strategy
$6.50 Buy
$6.38 Price Target
$6.97 Risk Management Stop
3 weeks Trade Duration
Wilmar International. Stock Code F34.SGX
Outlook
Price recently reached a high of $3.69 and we do not think the uptrend is over as yet. Price is likely to correct lower to Fibonacci 38% correction point of $3.48. The Base line is also at this price, which could reinforce this support area. Price is above the cloud and above the Base line, confirming the bullish trend. MACD is bullish and both MACD lines are high above the zero line, hinting of a strong bullish trend.
Strategy
$161.90 Buy
$172.20 Price Target
$156.90 Risk Management Stop
2 weeks Trade Duration
