Technical Analysis: 18 November 2021
United States | Singapore | Hong Kong
UNITED STATES
Lucid Group Inc (LCID US)
- Shares are gaining positive momentum, making higher highs and higher lows
- Strong support at 5dMA, positive MACD uptrend
- Long – Entry: 49.3, Target: 57.8, Stop: 46.7
Home Depot Inc (The) (HD US)
- Shares jumped after earnings and reached an all-time high on large volumes
- Strong support at 5dMA, MACD crossed the signal line
- Entry point at 5dMA right after earnings jump, risk-reward ratio determined 1:2
- Long – Entry: 379.4, Target: 411, Stop: 363.5
SINGAPORE
City Development (CIT SP)
- Uptrend looks intact, recently consolidating at around 7.20. Share price gains have been accompanied by larger-than-average trading volumes, indicating institutional buying.
- RSI is indicating a potential upside reversal.
- Long – Entry 7.25, Target 7.75, Stop 7.00
Singtel (ST SP)
- Shares are following the 50-day EMA, and are now once again at accumulation levels.
- Share price gains have been accompanied by higher-than-average trading volumes, indicating institutional buying.
- Long – Entry 2.50, Target 2.60, Stop 2.45
HONG KONG
Chinasoft International Limited (354 HK)
- Shares closed green for six consecutive trading days with increase in volumes. It is poised to break out the consolidation range after breaking above the downtrend line.
- Both MACD and RSI are constructive, pointing to a bullish momentum.
- Long – Entry: 14, Target: 15.4, Stop: 13.5
RemeGen Co Ltd (9995 HK)
- Share reversed the downtrend and displayed a V-shape rebound with increasing volumes.
- Since mid-August, shares had been consolidating between the 0.618 and 0.768 Fibonacci levels (HK$105.2 and HK$94.3). Both RSI and MACD showed the positive upward momentum for shares to test the recent high of HK$111.8.
- Long – Entry: 105, Target: 113, Stop: 102
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