Technical Analysis: 17 December 2021
United States | Singapore | Hong Kong
UNITED STATES
General Mills Inc (GIS US)
- Shares closed above the 5dMA yesterday and are strongly supported at the 5dMA
- Previous high (US$ 70.6) was in September 2016
- RSI on an uptrend while MACD is diverging above the signal line
- To long at the 5dMA and stop loss at the 20dMA
- Long – Entry 66.8, Target 70.6, Stop 64.6
Coca-Cola Company (KO US)
- Shares gapped up on Monday and enjoyed 4 consecutive days of gain
- Previous resistance (~US$ 57) is now the short-term support
- Previous high (US$ 59) was in March 2020
- RSI on an uptrend while MACD is diverging above the signal line
- To long at the 5dMA and stop loss at the gap up
- Long – Entry 57.7, Target 59, Stop 57
SINGAPORE
Frencken (FRKN SP)
- Shares dropped around 25% from its peak in mid-September, dragging down the RSI into oversold territory. Shares have rebounded and found support at the 200d EMA of 1.94, closing above it yesterday.
- RSI is bottoming out while MACD is also likely to show a bullish crossover.
- Long – Entry 1.94, Target 2.30, Stop 1.80
Olam International (OLAM SP)
- Share is currently well supported by the 50d EMA
- Buy up volume has been greater than the sell down volume by 20% for 10 days, indicating bullish sentiment.
- Long – Entry 1.71, Target 1.80, Stop 1.68
HONG KONG
CGN Power Co Ltd (1816 HK)
- Shares have reversed the downtrend and are poised to form a cup pattern.
- Both MACD and RSI show strong upward momentum.
- Long – Entry: 2.25, Target: 2.5, Stop: 2.15
China Datang Corp Renewable Power Co Ltd (1798 HK)
- Shares have reversed the downtrend and are poised to form a cup pattern.
- Both MACD and RSI show strong upward momentum.
- Long – Entry: 3.25, Target: 3.75, Stop: 3.05
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