Technical Analysis: 15 March 2022
United States | Singapore | Hong Kong
United States
Bank of America Corporation (BAC US)
- Shares formed an island reversal pattern.
- RSI reversed and rebounded from its downtrend while RSI is approaching the signal line.
- Long – Entry 44.82, Target 40.22, Stop 38.36
Walmart Inc (WMT US)
- Shares are forming a healthy uptrend with the 5dMA crossing the 200dMA yesterday.
- Shares entered the next trading range (~US$142 – ~US$146) before consolidating previously.
- Both RSI and MACD are constructive.
- Long – Entry 142.01, Target 146.51, Stop 139.91
SINGAPORE
Riverstone (RSTON SP)
- Shares broke out and closed at above the 200dEAM with a jump in volume.
- MACD is constructive, while RSI is at an overbought level.
- Long – Entry 0.90, Target 1.12, Stop 0.84
Japfa Ltd (JAP SP)
- Shares broke out and closed slightly above the 50dEMA.
- MACD shows an early sign of a turnaround, and RSI is constructive.
- Long – Entry 0.610, Target 0.645, Stop 0.600
HONG KONG
BOC Hong Kong (Holdings) Ltd (2388 HK)
- Shares rebounded from the 200dEAM and edged up with rising volumes.
- MACD shows an early sign of a turnaround, and RSI turns positive.
- Long – Entry: 27.8 Target: 29.45, Stop: 27.0
HSBC Holdings PLC (5 HK)
- Shares rebounded and consolidated at above the 200dEMA.
- Both MACD and RSI show weak momentum
- Long – Entry: 48.0, Target: 50.8, Stop: 47
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