Technical Analysis: 26 January 2022

United States | Singapore | Hong Kong

UNITED STATES

Walmart Inc (WMT US)

Shares rebounded and closed above the mini double bottom level yesterday (~US$138).
RSI relatively flat while MACD remains laggard. However, this is a range bound trade and there is strong support at ~US$136 which is another double bottom level.
Long – Entry 138.58, Target 145.68, Stop 135.92

Home Depot Inc (HD US)

Shares entered the oversold territory yesterday (RSI <30) and rebounded sharply on higher-than-average volumes.
Shares closed above the 200dMA which is a short-term support.
RSI ticked up sharply yesterday while MACD remains laggard.
Long – Entry 350.24, Target 374.16, Stop 337.91

SINGAPORE

SGX (SGX SP)

Uptrend still intact and likely to complete wave 4 as the stock forms higher highs and higher lows after bottoming out in Dec 2021.
Long – Entry 9.36, Target 9.86, Stop 9.12

Frencken (FRKN SP)

Stock is oversold based on the RSI. The last time RSI was this oversold was back in May 2021.
The stock back then declined 18%, similar to the current drop. Subsequently, shares went on to rally more than 30% after reaching oversold levels.
Long – Entry 1.62, Target 1.78, Stop 1.55

HONG KONG

Jiangxi Ganfeng Lithium Co.,Ltd. (1772 HK)

Shares broke out the falling wedge with a surge in volume.
Both MACD and RSI are constructive.
Long – Entry: 118, Target: 140, Stop: 108

China Southern Airlines Company Limited (1055 HK)

Shares have been trading upward with rising volumes.
Both MACD and RSI show strong upward momentum.
Long – Entry: 5.1, Target: 5.5, Stop: 4.9

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