Technical Analysis: 15 December 2021
United States | Singapore | Hong Kong
UNITED STATES
United States Steel Corporation (X US)
- Shares formed a mini double-bottom and rebounded yesterday
- RSI ticked upwards sharply yesterday while MACD is converging towards the signal line and might crossover soon
- Long – Entry 22.2, Target 24.7, Stop 21.0
Cleveland-Cliffs Inc (CLF US)
- 200dMA provides strong support; shares touched the 200dMA and rebounded yesterday;
- RSI ticked upwards yesterday while MACD has touched the signal line and might crossover soon
- Long – Entry 20.2, Target 21.7, Stop 19.4
SINGAPORE
Frencken (FRKN SP)
- Shares have dropped around 25% from its peak in mid-September, dragging down the RSI into oversold territory. It is now trading to find support at the 200d EMA at 1.94.
- RSI shows signs of bottoming out while MACD is about to turn positive.
- Long – Entry 1.91, Target 2.30, Stop 1.75
Metech International Ltd (V3M SP)
- Shares closed at a new high with the highest jump in volume on Monday (13 Dec). Shares have formed an uptrend.
- Both MACD and RSI showed strong upward momentum.
- Long – Entry 0.340, Target 0.380, Stop 0.32
HONG KONG
Want Want China Holdings Ltd. (151 HK)
- Shares have formed a strong uptrend since September. It is poised to test the high on the pre-COVID days.
- MACD and RSI show strong upward momentum.
- Long – Entry: 6.85, Target: 7.45, Stop: 6.55
China Resources Beer Holdings Co Ltd (291 HK)
- Shares form an inverted head and shoulder pattern.
- MACD shows an early sign of upward momentum, and RSI is constructive.
- Long – Entry: 67, Target: 73.85, Stop: 64
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