Technical Analysis: 14 January 2022
United States | Singapore | Hong Kong
Caterpillar Inc (CAT US)
- Shares closed above the 5dMA yesterday and broke the previous resistance level.
- Shares are also forming a cup pattern.
- Both MACD and RSI are on a positive momentum. However, RSI is oversold and there might be some correction in share price soon.
- Long – Entry 223.91, Target 235.17, Stop 218.78
Boeing Company (BA US)
- Shares gapped up yesterday and the 5dMA touched the 200dMA, indicating a possible crossover soon.
- Both MACD and RSI are on a positive momentum.
- Long – Entry 222.08, Target 232.32, Stop 217.23
Mapletree Logistics Trust (MLT SP)
- MLT’s units dropped around 19% from the recent peak of 2.16.
- It rebounded 3.5% yesterday from the support of 1.74 after RSI indicated oversold conditions.
- Long – Entry 1.78, Target 1.88, Stop 1.74
Mapletree Commercial Trust (MCT SP)
- MCT dropped more than 17% from the recent peak, a similar drop the stock experienced back in Sep-Oct 2021.
- RSI indicates severely oversold conditions. Following the 16% decline last Sep, MCT rebounded by as much as 30% from the depths of the sell-off. Both momentum indicators (RSI and MACD) are now starting to turn around.
- Long – Entry 1.85, Target 1.98, Stop 1.80
China Mengniu Dairy Company Limited (2319 HK)
- Shares formed a bullish flag pattern and a double bottom pattern.
- Both MACD and RSI are constructive.
- Long – Entry: 47.0, Target: 50.0, Stop: 45.5
China Oilfield Services Limited (2883 HK)
- Shares have been trading within an upward channel. It closed at a high since last October with a surge in volume.
- MACD shows strong upward momentum, while RSI reaches an overbought level.
- Long – Entry: 7.1, Target: 8.1, Stop: 6.6