United States | Singapore | Hong Kong

United States

Home Depot Inc (HD US)

• Shares formed a hammer candlestick pattern yesterday.
• Shares formed a triple bottom yesterday are strongly supported around this level (~US$380.82)
• Even though both MACD and RSI are on a downtrend, shares closed above the previous consolidation range and did not fill the previous gap.
• Long – Entry 380.82, Target 416.67, Stop 365.58

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Bank of America Corporation (BAC US)

• Shares pulled-back from its all-time high yesterday, however still closing above the 5dMA.
• Previous resistance is the short-term support for shares (~US$48.40).
• Both MACD and RSI are on an upward momentum.
• To long at the 5dMA level and take profit at the previous all-time high.
• Long – Entry 48.19, Target 50.12, Stop 47.05

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SINGAPORE

Olam International (OLAM SP)

• Shares rose yesterday on higher-than-average trading volume
• MACD and RSI both remain positive. We expect limited downside as the 100d EMA of 1.69 should provide a strong support. 
• Long – Entry 1.76, Target 1.91, Stop 1.69

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Riverstone (RSTON SP)

• Shares have been rising along the 20d EMA on fairly healthy volume, and finally closed above the 100d EMA of 0.745 yesterday. 
• MACD and RSI are both on an uptrend that suggest further upside. 
• Long – Entry 0.75, Target 0.85, Stop 0.705

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HONG KONG

China CITIC Bank (998 HK)

• Shares gapped up and closed at above the 200dEMA since June 2021 with a surge in volume.
• MACD shows strong upward momentum, while RSI hit an overbought level.
• Long – Entry: 3.50, Target: 3.75, Stop: 3.40

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CSPC Pharmaceutical Group Ltd (1093 HK)

• Shares gapped up and closed at above the 200dEMA since August 2021 with a surge in volume.
• MACD shows strong upward momentum, while RSI hit an overbought level.
• Long – Entry: 9.0, Target: 10.0, Stop: 8.5

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