Keppel Corp (SGX: BN4) initial strong bearish sentiment on 5^th October will likely take a backseat as the selling momentum seems to be halting. Price action indicate that the sell-off did not materialise after the strong marobozu and instead prices consolidated. As such, the bullish upside may come earlier than expected based on the technical.

1. Keppel Corp consolidation has formed a bullish pennant and on Monday 12^th October, the bullish candle has broken above the pennant.
2. Although prices is still trending below the Ichimoku cloud which made up of the Senkou-Span A and B, the 1^st signal where by the Tankan-Sen crosses above the Kijun-Sen has formed. To add on, prices has started to trend above both the Kijun-sen and Tenkan-Sen.
3. Chikou-Span has pierces through the upside of the candle. The 2^nd
4. Senkou-Span A has turned flat while Senkou-Span B has turn on the upside. A rare occurrence which signify a possible upside coming.

*Timeline of the trade is 4 weeks from the date issued.

*The trend is still on the downtrend based on the Kumo cloud.

*Keppel need to break the immediate resistance level at $4.58 to confirm the upside in the short term

*Should prices reverse, the next lower support zone will be the next rebound zone as highlighted on our 5^th October report

CHART LEGENDS

Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Purple Line A= 26 periods Senkou Span A

Purple Line B = 52 periods Senkou Span B plotted 26 periods ahead

Green line = 26 periods Chikou Span. Lagging line