Keppel Corp Ltd November 23, 2021 541

Keppel Corp (SGX: BN4) Failure to break the gap resistance zone in October caused the price to fall  sharply. But the positive outlook is  because the price managed to  remain above the resistance turned support at $5.30:   

 

  1. The cup and handle formation is an indication of a potential bullish upside. The price also broke out of the handle/falling wedge. This is a good initial sign of a bullish upside to come.
  2. The resistance zone of $5.55-$5.65  was severely weakened due to multiple testing.  

 

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

*Price remains rangebound after a breakout of the pennant.

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