Technical Analysis: 18 April 2022
United States | Singapore | Hong Kong
United States
Nike Inc (NKE US)
- Shares closed above the 5dMA on Thursday on higher-than-average trading volumes.
- RSI reversed from its downtrend while MACD remains laggard.
- Long – Entry 129.01, Target 139.93, Stop 122.67
The Kraft Heinz Company (KHC US)
- Shares are forming a cup pattern and have been trading near the 5dMA.
- Shares broke the previous resistance level (~US$41).
- RSI currently shows shares are at overbought levels while MACD remains comprehensive.
- Long – Entry 41.15, Target 44.10, Stop 40.04
SINGAPORE
Yangzijiang Shipbuilding (BS6 SP)
- Chart is the process of forming the cup of the bullish “cup and handle” pattern.
- MACD is still supportive but uptrend may start to slow given RSI is at overbought levels
- Long – Entry 1.64, Target 1.78, Stop 1.58
Golden Energy and Resources (AUE SP)
- Shares have formed the bullish “cup and handle” chart pattern.
- Upside momentum is further supported by the 20d EMA and positive MACD trend
- Long – Entry 0.61, Target 0.71, Stop 0.56
HONG KONG
The Hong Kong market is closed today in observance of a public holiday (Easter Monday). Trading resumes tomorrow, 19 April.
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