Technical Analysis: 11 February 2022
United States | Singapore | Hong Kong
UNITED STATES
Royal Caribbean Cruises Ltd (RCL US)
- Shares closed well above the 5dMA yesterday and have broke the previous strong consolidation levels (~US$78 to ~US$85)
- Both RSI and MACD are constructive.
- Long – Entry 85.32, Target 93.14, Stop 82.07
United States Steel Corporation (X US)
- Shares are showing a strong uptrend and the 5dMA provides strong support.
- Shares closed above the previous resistance level yesterday and it is recommended to long at that level.
- Both RSI and MACD are constructive.
- Long – Entry 23.55, Target 26.88, Stop 22.02
SINGAPORE
IFAST (IFAST SP)
- MACD had bullish crossover earlier this week and RSI is starting to trend up after it was oversold in the earlier part of the year.
- Key support of 6.0 has held up well.
- Long – Entry 6.55, Target 7.43, Stop 6.14
Wilmar (WIL SP)
- Shares are forming higher highs and higher lows after bottoming at near 4.00 in December 2021.
- MACD and RSI are still on an uptrend and supportive of positive momentum.
- Long – Entry 4.45, Target 5.00, Stop 4.19
HONG KONG
Jiangxi Copper Company Limited (358 HK)
- Shares broke out the 200dEMA and closed at an intraday high with a surge in volume.
- MACD shows strong momentum, while RSI is near an overbought level.
- Long – Entry: 14.5 Target: 15.7, Stop: 13.9
Shangri-La Asia Limited (69 HK)
- Shares broke out the 200dEMA and closed at an intraday high with a surge in volume.
- MACD shows an early sign of turnaround, and RSI remains constructive.
- Long – Entry: 6.5, Target: 7.5, Stop: 6.0
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