KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis: 1 March 2022

United States | Singapore | Hong Kong

United States

Bank of America Corporation (BAC US)

  • Shares have entered the accumulation zone where they are well supported at around US$43.
  • Shares have consolidated at this level previously and formed a triple bottom which provides a strong support.
  • Long – Entry 43.56, Target 47.29, Stop 42.06

Boeing Company (BA US)

  • Shares closed above the 5dMA yesterday.
  • Strong support at around US$190 as evident from shares rebounding from triple bottom levels.
  • RSI reversed from its downtrend while MACD is still laggard.
  • Long – Entry 199.85, Target 219.75, Stop 190.46

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SINGAPORE

City Development (CIT SP)

  • Momentum indicators are still mixed. MACD is negative while RSI is trending lower. 
  • Hence, the 23.60% FIB support at 7.00 presents a better risk/reward opportunity at this point. 
  • Long – Entry 7.00, Target 7.42, Stop 6.68

OCBC (OCBC SP)

  • Shares are finding support at a key buying level. 
  • Momentum indicators are still mixed. While MACD is still bearish, RSI points to oversold conditions, and may indicate a technical rebound is in the cards. For margin of safety, we maintain 11.56 as a potential entry point (yesterday’s low as 11.45)
  • Long – Entry 11.56, Target 12.49, Stop 11.28

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HONG KONG

 Huaneng Power International Inc (902 HK)

  • Shares formed a double-bottom at the 200dEMA. The stocks retested the resistance for the third time. 
  • MACD shows an early sign of turnaround, and RSI is constructive. 
  • Long – Entry: 4.50 Target: 5.10, Stop: 4.2

CGN Mining Co Ltd (1164 HK)

  • Shares broke out from the downward channel with a surge in volumes.
  • MACD shows an early sign of turnaround, and RSI is constructive. 
  • Long – Entry: 0.85., Target: 0.99, Stop: 0.80

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