Technical Analysis: 28 March 2022
United States | Singapore | Hong Kong
United States
Meta Platforms Inc (FB US)
- Shares are forming a cup pattern and have been short-term trading at the 5dMA.
- Both MACD and RSI are constructive.
- Long – Entry 210.94, Target 244.47, Stop 190.92
Albemarle Corp (ALB US)
- Shares are on an upward trend and have been short-term trading at the 5dMA.
- Both MACD and RSI are constructive.
- Long – Entry 204.33, Target 230.18, Stop 191.79
SINGAPORE
Singtel (ST SP)
- Shares finally broke above the key resistance level of 2.60 last Friday, and closed at 2.65. Support is now at 2.60.
- MACD and RSI are supportive of further upside momentum.
- Long – Entry 2.63, Target 2.87, Stop 2.50
Genting Singapore (GENS SP)
- Shares have formed the bullish “cup and pattern” handle. Shares may consolidate last week’s gains before potentially moving higher.
- Momentum indicators are mixed, with MACD still positive while RSI indicates overbought conditions.
- Long – Entry 0.82, Target 0.88 Stop 0.79
HONG KONG
CITIC Bank Corporation Limited (998 HK)
- Shares gapped up with a surge in volume. The stock tested the previous highs but closed slightly lower. It is poised to fill the gap.
- Both MACD and RSI are constructive.
- Long – Entry: 3.78 Target: 3.98, Stop: 3.68
Industrial and Commercial Bank of China Limited (1398 HK)
- Shares have reversed the downtrend and resumed uptrend with rising volumes.
- Both MACD and RSI show an early sign of a turnaround.
- Long – Entry: 4.60, Target: 4.82, Stop: 4.50
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