Technical Pulse: Keppel Corp Ltd October 5, 2020 1132

Keppel Corp (SGX: BN4) strong downside has been ongoing for the past 1 year and despite the small bullish jump last week, prices still faces stiff resistance and may be visiting the low again based on the technical indicated:

  1. The Gravestone doji formation was followed by a small doji and finally a bearish Marobozu to confirm the bearish selling at the resistance selling zone.
  2. Dominant trend is still bearish as prices remain below the key resistance zone at $$4.82, which is the March 2020 low. To add on, prices remain below the 50 and 200-day moving average.
  3. RSI shows a U-Turn below 60 resistance line and this indicate that the upside momentum remain low.


*Timeline of the trade is 3 weeks from the date issued.

*Potential rebound is at $4.09 region. To confirm the bullish upside, the stock must clear above $5.00.



Moving average

Red dotted line = 200 periods Moving average

Blue dotted line = 50 periods Moving average

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