Technical Analysis: Keppel DC REIT October 19, 2016 17
Keppel DC Reit – Daily timeframe (Update from 22 Sept 16)
Current Sentiment: Bullish
Support 1: 1.190 Resistance 1: 1.250
Support 2: 1.170 Resistance 2: 1.260
Price trended higher as expected after the last update as it trails along the 20 and 60 day moving average. Moreover, the uptrend still appears strong as price broke new high after it rejected the 60 day moving average recently.
There was a strong bullish close above the 1.235 range high with increasing volume suggests further upside next.
Expect price to move higher next to test the 1.250 psychological round number followed by 1.260.
Note: Our current fundamental view on Keppel DC Reit is an Accumulate rating with a fair value of $1.260.
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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.