Technical outlook (update for major large cap SG stocks)

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  • #40611

    Research Department
    Replying to #

    Capitaland’s upside from November has come to a halt and the stock is likely to make another 3-wave downside. First, prices today has broken below the support of the descending triangle. Ichimoku has shown “3 bearish death cross” signal. However,  $2.95-$3.10 support zone is worthy to take a look and notice. Otherwise, support zone 2 is worthy to take a look at as well.

    Keppel Corp has broken out of the sub-corrective rising wedge and we expect prices to continue to slide further into $4.60 support region. Overall, the corrective ABC wave structure has yet to complete and should $4.60 holds, prices are expected to rally to $6.14.

    Potential head and shoulder are coming close to confirmation after prices fail to close above key resistance at $26.00. As DBS has just completed the double zig-zag formation within the larger ascending channel resemble the flag, we are more caution for now. Next support target to observe is at $23.56-$23.00.

    Like DBS, UOB is facing tough resistance at $23.97-$24.44. expect further sliding to 22.67 minimum.

    As for OCBC, it has similar attributes and structure as both DBS and UOB.



    Replying to #

    Capland seems like supported at 308 


    Replying to #

    Hi Wei Ren, SPH broke 200EMA, seems like this is a good sign for this sleeping beauty?

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