Technical Analysis: Keppel Corp Limited October 12, 2016 15
Keppel Corp Ltd – Daily timeframe (Update from 31 Aug 2016)
Current Sentiment: Bearish
Support 1: 5.16 Resistance 1: 5.49
Support 2: 5.13 Resistance 2: 5.60
Price failed to break below the 5.13 range low after the last update resulting in further consolidation.
The range has stayed in place for the past 10 weeks with 5.49 acting as the range high and 5.13 acting as the range low.
Currently, price is testing the 5.49 range high where it was faced with relentless selling once again shown by the Bearish Outside Bar with increasing volume on 11/10/16.
Expect price to head lower next to test the 5.13 – 5.16 range low.
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Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd
Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.
He is also a regular columnist on The Business Times - every Monday ChartPoint column.
He graduated with a Bachelor of Science in Banking and Finance from University of London.