Technical Pulse: Keppel T&T Limited December 5, 2016 37
Keppel T&T Ltd – Weekly timeframe
Current Sentiment: Bullish
Support 1: 1.615 Resistance 1: 1.715
Support 2: 1.570 Resistance 2: 1.740
The long term uptrend since May 2016 is still intact as price was firmly held up by the confluence of 50% Fibonacci Retracement level and 1.615 support area.
Price entered in to correction recently after testing the 1.900 resistance area but the current price action signals a potential reversal back into the uptrend. The bullish rejection off the support area resulted in price forming a hammer on the week ended 02/12/16 suggests further upside next.
Expect price to rise next to test the 1.715 resistance area followed by 1.740.
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Featuring regular TA posts and requests to analyse specific stocksAbout the author
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.