Technical Analysis – 11 August 2022
United States | Singapore | Hong Kong
Marvell Technology Inc (MRVL US)
- Shares broke out of the upward channel but rebounded with a jump in volume. The stock closed above the 5dEMA.
- RSI remains constructive, but MACD is about to turn negative.
- Long – Entry 54.5, Target 58.4, Stop 52.5
Meta Platforms Inc (META US)
- Shares gapped up and closed above the 50dEMA with an increase in volume. The stock had formed a bottom.
- Both MACD and RSI are constructive.
- Long – Entry 176.0, Target 199.0 Stop 169
Marco Polo Marine (MPM SP)
- Consolidating above S$0.029 – S$0.03 channel. Last close above the 8/21 day EMA indicates bullish momentum, and could see it test YTD high again.
- RSI constructive
- Long – Entry 0.032, Target 0.036, Stop 0.030
Riverstone (RSTON SP)
- Trading at an upward channel since rebounding from bottom in middle of June. Last close bounced up from channel bottom to close above 8/21 day EMA. Breakout from channel could see it trade at levels seen in March to April..
- RSI toppish, maintain tight stop loss.
- Long – Entry 0.83, Target 0.94, Stop 0.79
China Medical System Holdings (867 HK)
- Shares formed a bullish flag. The 5dEMA crossed above the 20dEMA.
- MACD starts to turn positive, while RSI remains flat.
- Long – Entry: 12.3, Target: 12.9, Stop:12.0
China Molybdenum Co., Ltd (3993 HK)
- Shares formed a double-bottom pattern. The 5dEMA was the support level.
- MACD is positive, while RSI remains flat.
- Long – Entry: 3.75, Target: 4.00 Stop: 3.65
