KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis: 19 November 2021

United States | Singapore | Hong Kong

UNITED STATES

Uber Technologies Inc (UBER US)

  • Range bound trade; strong resistance at 48.9, strong support at 42.2
  • 5dMA looks like about to cross 20dMA and 60dMA
  • RSI on an ascending channel pattern
  • Long – Entry: 43.6, Target: 48.9, Stop: 42.2

Macys Inc (M US)

  • Shares gapped up 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: 33.5, Target: 40.6, Stop: 30

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SINGAPORE

Genting Singapore (GENS SP)

  • Uptrend looks intact since bottoming out in October. Shares recently rose past the key 0.5 fib resistance. 
  • MACD shows continued uptrend while price gains have been accompanied by higher-than-average trading volumes, indicating institutional buying. 
  • Long – Entry 0.83, Target 0.88, Stop 0.81

Frencken (FRKN SP)

  • Uptrend following the 100d EMA (light blue line). 
  • Shares have been trading range bound since August 2021. The 50d EMA (orange line) provides a good entry level. 
  • Long –Entry 2.27, Target 2.50, Stop 2.17

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HONG KONG

PC Partner Group Ltd (1263 HK)

  • Since the breakout with a surge in volumes in late September, shares performed a healthy uptrend, forming higher lows and high highs. And it has been trading within the upward channel. 
  • The previous high and recent low overlapped at HK$10.5, which is considered a near-term support. 
  • MACD started to turn downward, implying soft momentum. But RSI stayed above 60, implying a healthy ongoing uptrend. 
  • Long – Entry: 11.5, Target: 13.5, Stop: 10.5

Shandong Gold Mining Co Ltd (1787 HK)

  • Shares displayed a cup and handle pattern. It has been consolidating at the highest levels since mid-September with volumes edging up. Shares also kept closing at above the 5dEMA for the last two weeks, implying the short-term supports are firm. 
  • Both RSI and MACD showed positive upward momentum. 
  • Long – Entry: 15.3, Target: 16.3, Stop: 14.9

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