Technical outlook (update for major large cap SG stocks)

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  • #40611

    Research Department

    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.




    Capland seems like supported at 308 



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

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