Technical Analysis: 24 January 2022
United States | Singapore | Hong Kong
UNITED STATES
CF Industries Holdings Inc (CF US)
- Shares have formed an upward parallel channel with higher highs and higher lows.
- Shares closed above the 60dMA on Friday which is a relatively strong support level.
- RSI ticked upwards yesterday however MACD remains laggard.
- Long – Entry 64.56, Target 69.46, Stop 62.35
Meta Platforms Inc (FB US)
- Even though shares have broken the previous support level, RSI is about to reach the oversold levels (<30); technical rebound play.
- Recommended to long ~US$308 which is the double-bottom base.
- Long – Entry 308.15, Target 327.35, Stop 295.89
SINGAPORE
Jiutian Chemical (JIUC SP)
- MACD is on a positive uptrend and supportive of further upside as shares formed a double bottom at 0.067 in December 2021.
- Shares are forming higher highs and higher lows from the double bottom in December 2021. RSI at oversold conditions may indicate some consolidation for a few days before moving higher.
- Long – Entry 0.082, Target 0.10, Stop 0.076
Sembcorp Industries (SCI SP)
- Shares are in the process of forming a cup and handle pattern, after testing last year’s highs.
- MACD is supportive of the recent positive momentum, while RSI is near overbought levels and may indicate consolidation at the current level to complete the cup and handle pattern, before likely breaking out from the current resistance level of 2.23
- Long – Entry 2.20, Target 2.33, Stop 2.13
HONG KONG
Guotai Junan Securities Co Ltd (2611 HK)
- Shares are trending up, forming two bullish flag patterns.
- MACD is about to turn positive, and RSI remains constructive.
- Long – Entry: 12.1, Target: 12.8, Stop: 11.8
Tsingtao Brewery Co Ltd (168 HK)
- Shares jumped with a surge in volume and are poised to form a bullish flag pattern.
- MACD is about to turn positive, and RSI remains constructive.
- Long – Entry: 72, Target: 78.4, Stop: 69
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