Technical Analysis: 20 December 2021
United States | Singapore | Hong Kong
UNITED STATES
Spotify Technology S.A. (SPOT US)
- Shares have formed a double-bottom pattern and closed above the 5dMA on Friday
- RSI on an uptrend while MACD has just touched the signal line and may crossover soon
- To long at the 5dMA and stop loss at the 200dMA
- Long – Entry 229.1, Target 245.7, Stop 218.6
MGM Resorts International (MGM US)
- Shares rebounded from the 200dMA and closed above the 5dMA on Friday
- RSI on an uptrend while MACD is diverging above the signal line
- To long at the 5dMA
- Long – Entry 41.4, Target 43.9, Stop 39.7
SINGAPORE
Aztech Global (AZTECH SP)
- Bullish harami formed last Friday, while RSI indicates stock is severely oversold and due for a technical rebound.
- Volume-based signals are still giving mixed signals, with sell down value greater than buy up value by 20% over the past 10 days.
- Long – Entry 0.86, Target 0.94, Stop 0.82
Ascendas REIT (AREIT SP)
- Shares are entering 12m accumulation zone of between 2.88 and 2.94
- MACD is about to form a bullish crossover.
- Long – Entry 1.90, Target 3.12, Stop 2.86
HONG KONG
CGN Power Co Ltd (1816 HK)
- Shares form a cup and handle pattern with an increase in volumes.
- Both MACD and RSI show strong upward momentum.
- Long – Entry: 7.30, Target: 8.50, Stop: 6.85
CNOOC Ltd (883 HK)
- Shares have managed to close at above 20dEMA since October with an increase in volumes.
- Both MACD and RSI show signs of turnaround.
- Long – Entry: 7.8, Target: 8.4, Stop: 7.5
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