Technical Analysis: 24 November 2021
United States | Singapore | Hong Kong
UNITED STATES
Occidental Petroleum Corporation (OXY US)
- 5dMA crossed 60dMA yesterday
- Shares touched the 120dMA and rebounded; Strong short-term support at 120dMA
- RSI rebounded sharply over the last 2 days
- Long – Entry: 31.0, Target: 35, Stop: 29.4
Cleveland Cliffs Inc (CLF US)
- 5dMA touched both 20dMA and 60dMA yesterday
- RSI trending upwards; MACD looks like about to cross signal line
- Long – Entry: 22.4, Target: 24.3, Stop: 21.7
SINGAPORE
Olam International (OLAM SP)
- Shares are poised to form a cup and handle pattern if it is going to consolidate after testing the highs in June.
- It has bottomed out since July. Both MACD and RSI are showing a consistent recovery.
- Long – Entry 1.74, Target 1.90, Stop 1.66
Golden Energy and Resources Ltd (GER SP)
- Shares formed a bullish engulfing pattern at the 200dEMA level with a surge in volume.
- It gapped up on the following day, forming an island reversal pattern.
- Long – Entry 0.29, Target 0.33, Stop 0.275
HONG KONG
BYD Electronic (International) Co Ltd (285 HK)
- Shares had jumped out of the downward channel.
- After consolidating below the 60dEMA, shares managed to break above it with a surge in volume.
- 60dEMA (HK$30.07) became a support level from a resistance level. The resistance is the 200dEMA (HK$35.76).
- Both MACD and RSI showed strong upward momentum.
- Long – Entry: 30.85, Target: 35.5, Stop: 28.8
Smoore International Holdings Ltd (6969HK)
- Shares broke above the 200dEMA with a surge in volumes and closed at the higher bound of the trading range which consolidated for more than four months.
- 200dEMA (HK$42.68) became a support level from a resistance level.
- MACD and RSI were constructive, showing strong upward momentum.
- Long – Entry: 42.8, Target: 53, Stop: 39
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