Technical Analysis: 16 March 2022
United States | Singapore | Hong Kong
United States
Bank of America Corporation (BAC US)
- Shares formed an island reversal pattern and have been trading near the 5dMA.
- RSI reversed and rebounded from its downtrend while RSI is approaching the signal line.
- Long – Entry 44.07, Target 40.92, Stop 39.71
Advanced Micro Devices (AMD US)
- Shares are well supported around $100 and presents a good entry point for accumulation.
- Both RSI and MACD are moving sideways.
- Long – Entry 100, Target 116.70, Stop 92.93
SINGAPORE
Hour Glass Ltd (HG SP)
- Shares went up with high volumes.
- MACD is about to turn positive, and RSI is constructive.
- Long – Entry 2.02, Target 2.10, Stop 1.98
DBS Group Holdings Ltd (DBS SP)
- Shares gapped up with a jump in volume.
- MACD shows an early sign of a turnaround, and RSI is constructive.
- Long – Entry 33.7, Target 34.7, Stop 33.2
HONG KONG
Ganfeng Lithium Co., Ltd. (1772 HK)
- Shares fell to the last year’s consolidation range during April and May with a jump in volume.
- MACD shows strong selling momentum, and RSI is at an oversold level.
- Long – Entry: 86 Target: 101, Stop: 80
CNOOC Limited (883 HK)
- Shares filled the previous gap and closed at above the 200dEMA with a surge in volume.
- MACD shows strong selling momentum, and RSI is approaching the oversold level.
- Long – Entry: 8.8, Target: 9.5, Stop: 8.5
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