Technical Analysis: 22 November 2021
United States | Singapore | Hong Kong
UNITED STATES
Apple Inc (AAPL US)
- Shares rallied over the past 4 trading days on high volume with a new all-time high set on Friday
- MACD broke the signal line; RSI on an upward trend
- Entry point at Thursday’s closing price when shares broke previous all-time high resistance; Risk-reward ratio determined 1:2
- Long – Entry: 157.9, Target: 166.2, Stop: 153.7
Wayfair Inc (W US)
- MACD crossed the signal line; RSI on upward momentum
- 5dMA provided short-term support for shares
- Long – Entry: 270.9, Target: 291.6, Stop: 259.4
SINGAPORE
OCBC (OCBC SP)
- Potential entry level at the confluence of 100d EMA and uptrend channel.
- Longer term support at 200d EMA at 11.50
- Long – Entry 11.79, Target 12.46, Stop 11.52
Silverlake Axis (SILV SP)
- Uptrend has been following the 20d EMA since July 2021.
- Cup and handle pattern emerging, with shares potential ready to break out of its 1.5-year high of 0.345
- Long –Entry 0.32, Target 0.305, Stop 0.35
HONG KONG
Prada S.p.A. (1913 HK)
- Shares performed a nice V-shape turnaround. Recently, it broke out of the consolidation range between HK$45-50 with an increase in volumes. As of last Friday, it stayed at the previous consolidation range between HK$54-58. It is poised to form a cup and handle pattern if it consolidates at this level.
- The next Fiboncci resistance level is HK$59.9, and after breaking above which it could retest the YTD high of HK$65.3.
- The uptrend MACD implies positive upward momentum. RSI is above 70, implying it is overbought in the near term.
- Long – Entry: 56, Target: 62, Stop: 53
China Molybdenum Co., Ltd. (3993 HK)
- Shares retested the higher bound of the consolidation range between HK$4.4 and HK$4.7 with a surge in volume. Meanwhile, it closed above the 20dEMA of HK$4.69.
- The next resistance levels are 0.236 Fibonacci of HK$4.83 and 60dEMA of HK$5.03.
- Both RSI and MACD showed positive upward momentum.
- Long – Entry: 4.65, Target: 5.15, Stop: 4.4
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