Technical pulse: Keppel DC REIT (SGX: AJBU) December 8, 2022 520
(Current Price: S$1.88) – TECHNICAL BUY
Buy price: $1.90 Stop loss: S$1.84 Take profit: S$2.05
The price has been consolidating in a bullish ascending triangle, retesting the previous support now turned resistance level at S$1.90 multiple times, while forming higher lows along the way. The Bollinger Bands are also contracting currently, hence we are likely to see an expansion in volatility soon and a potential breakout of the S$1.90 horizontal resistance to retest the next resistance at S$2.05, confluent with a previous swing high level and a downtrend resistance line.
Expected timeline of the trade is 1-2 weeks from the date of report issuance.
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Zane Aw
Technical Analyst
PSR
I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).