Technical Analysis: 14 March 2022

United States | Singapore | Hong Kong

United States

Macy’s Inc (M US)

Shares are consolidating and are strongly supported at the 200dMA.
Shares are currently at the bottom of the accumulation zone.
RSI and MACD are both moving sideways.
Long – Entry 22.97, Target 28.43, Stop 20.35

Walgreens Boots Alliance Inc (WBA US)

Shares have reversed from its downtrend after forming a double bottom level.
Both RSI and MACD are constructive.
Long – Entry 46.70, Target 50.19, Stop 45.08

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.
MACD is about to form a bullish crossover while RSI is turning up
Long – Entry 2.58, Target 2.8, Stop 2.45

UOB (UOB SP)

Shares recently formed an island reversal after briefly falling below the 100d EMA of 28.90, and rebounding back to the prior consolidation level. This is typically a bullish chart pattern.
RSI recently rebounded from oversold conditions while MACD is about to form a bullish crossover.
Long – Entry 30.10, Target 32.59, Stop 28.90

HONG KONG

Nongfu Spring Co Ltd (9633 HK)

Shares formed a bullish hammer candlestick last Friday. Meanwhile, the stock retested the key support of HK$36.55.
RSI is at an oversold level, while MACD is still negative.
Long – Entry: 37.00 Target: 39.95, Stop: 35.50

Orient Overseas International Ltd (316 HK)

Shares have been edging up within the upward channel. Last Friday, the stock formed a bullish engulfing pattern.
MACD shows an early sign of turnover, and RSI is constructive.
Long – Entry: 226, Target: 248, Stop: 219

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