Technical Analysis: 11 March 2022
United States | Singapore | Hong Kong
United States
Alibaba Group Holding Ltd (BABA US)
- Shares are edging towards its 2016 lows (~US$86). Previous resistance level is now the support level.
- RSI rebounded from oversold levels while MACD remains laggard.
- Long – Entry 86.81, Target 107.94, Stop 76.64
Sunpower Corporation (SPWR US)
- Shares formed a bullish flag and are forming higher highs and higher lows.
- Both RSI and MACD are constructive.
- Long – Entry 19.84, Target 25.38, Stop 17.24
SINGAPORE
Singtel (ST SP)
- Shares have tested the 2.60 resistance for five times since November 2020. On a positive note, shares are forming higher lows.
- Both momentum indicators show likely consolidation at the current range before a potential breakout.
- Long – Entry 2.55, Target 2.72, Stop 2.46
Fortress Minerals (FMIL SP)
- MACD is still showing bullish momentum while RSI recently turned down after touching overbought conditions on likely profit taking after recently trading to 6-months high.
- Next support level at the 20d EMA of 0.45 may be a possible entry level as selling volume has eased.
- Long – Entry 0.450, Target 0.525, Stop 0.42
HONG KONG
Xinyi Glass Holdings Ltd. (868 HK)
- Shares closed at above the 5dEMA, breaking out the consolidation with a jump in volume.
- MACD shows the momentum remains weak, while RSI starts to turn positive.
- Long – Entry: 19.1 Target: 21.1, Stop: 18.0
Xinte Energy Co Ltd. (1799 HK)
- Shares closed above the 200dMA with a jump in volume. The stock is holding up well within the upward channel.
- MACD is about to turn positive, and RSI is constructive.
- Long – Entry: 16.8, Target: 18.2, Stop: 16.1
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