Technical Analysis – 1 March 2023
United States | Singapore | Hong Kong
Alibaba Group Holding Ltd (BABA US)
- Shares formed a head and shoulder pattern. The 20dEMA crossed the 50dEMA.
- RSI is at an oversold level and MACD is negative.
- Long – Entry 86 Target 96 Stop 81
iQIYI Inc (IQ US)
- Shares closed at a 52-week high above the 5dEMA.
- RSI is constructive, while MACD is about to turn positive.
- Long – Entry 7.65, Target 9.00, Stop 6.98
Bumitama Agri Ltd. (BAL SP)
- Shares closed at a high since Nov 22, above the 5dEMA, with a surge in volume.
- MACD is positive, RSI is constructive.
- Long – Entry 0.640, Target 0.670, Stop 0.625
Propnex Ltd. (PROP SP)
- Shares rose higher to close above the 5dEMA, with a surge in volume after earnings.
- MACD just turned positive, RSI is at an “overbought” level.
- Long – Entry 1.78, Target 1.90, Stop 1.72
China Youzan Ltd (8083 HK)
- Shares closed above the 5dEMA with a jump in volume.
- RSI is constructive, while MACD is negative.
- Long – Entry 0.210, Target 0.224, Stop 0.203
AIA Group Ltd (1299 HK)
- Shares gapped up and closed above the 5dEMA with a rise in volume.
- RSI is constructive, while MACD is about to turn positive.
- Long – Entry: 83.10, Target 84.00 Stop: 82.65
