Technical Analysis: 2 March 2022
United States | Singapore | Hong Kong
United States
Penn National Gaming, Inc. (PENN US)
- Shares formed a bullish flag pattern and have been edging up since February.
- MACD shows an early sign of a turnaround, and RSI is constructive.
- Long – Entry 50, Target 60, Stop 45
United States Steel Corporation (X US)
- Shares formed a bullish flag pattern with rising volumes.
- MACD shows strong upward momentum, while RSI is at an overbought level.
- Long – Entry 27, Target 30, Stop 26
SINGAPORE
Rex International (REXI SP)
- Uptrend momentum is currently supported by the 20d EMA.
- While MACD is still bullish, RSI is starting to turn down. Hence, a more attractive entry level will be pullbacks to the 20d EMA of 0.395
- Long – Entry 0.395, Target 0.485, Stop 0.360
UOB (UOB SP)
- Selling pressure seen last week has largely abated as volumes come down.
- Shares closing above the 100d EMA yesterday indicates slightly bullish buying. However, we would look at only light positioning given that momentum indicators are still mixed as MACD remains bearish.
- Long – Entry 30.22, Target 32.60, Stop 29.14
HONG KONG
AviChina Industry & Technology Company Limited (2357 HK)
- Shares have been edging up since February.
- Both MACD and RSI are constructive.
- Long – Entry: 4.80 Target: 5.17, Stop: 4.70
Fuyao Glass Industry Group Co Ltd (3606 HK)
- Shares retested the support for the fifth time.
- Both MACD and RSI show downtrend momentum.
- Long – Entry: 37.65, Target: 46.20, Stop: 33.35
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