Technical Analysis: 25 February 2022
United States | Singapore | Hong Kong
United States
Boeing Company (BA US)
- Range bound trade with strong support levels around US$196. Shares tested the level 4 times.
- RSI shows signs of turnaround however MACD is laggard.
- Long – Entry 196.31, Target 212.66, Stop 184.44
Barrick Gold Corporation (GOLD US)
- Shares retreated from oversold levels (RSI >70) and closed at the 5dMA yesterday.
- MACD remains constructive.
- Long – Entry 22.32, Target 24.38, Stop 21.16
SINGAPORE
Olam International (OLAM SP)
- The 200d EMA has held up well and has supported shares three times year-to-date.
- Long on potential pullbacks to the 200d EMA at 1.68
- Long – Entry 1.68, Target 1.85, Stop 1.60
OCBC (OCBC SP)
- Both momentum indicators (MACD and RSI) are pointing to further downside.
- A potential entry will be at the 23.60% Fib at 11.56, which is also a key buying support level.
- Long – Entry 11.56, Target 12.49, Stop 11.28
HONG KONG
China Oilfield Services Limited (2883 HK)
- Shares formed a bullish engulfing pattern on Thursday.
- MACD shows weak momentum, and RSI is at an overbought level.
- Long – Entry: 8.7 Target: 9.5, Stop: 8.3
CNOOC (883 HK)
- Shares are trending upward.
- MACD shows weak momentum, and RSI is at an overbought level.
- Long – Entry: 10.1., Target: 10.6, Stop: 9.6
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