Technical Analysis: 27 January 2022
United States | Singapore | Hong Kong
UNITED STATES
Citigroup Inc (C US)
- Shares have formed a cup and handle pattern.
- 5dMA crossed the 20dMA yesterday and shares enjoyed 3 consecutive days of gains.
- RSI has reversed its downtrend while MACD remains laggard.
- Long – Entry 64.05, Target 68.39, Stop 62.82
Occidental Petroleum Corporation (OXY US)
- Shares closed above the 5dMA yesterday and at the previous resistance level (~US$37.05)
- Both RSI and MACD are constructive.
- To long at the previous resistance level and take profit at the previous high in February 2020.
- Long – Entry 37.05, Target 40.56, Stop 35.41
SINGAPORE
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.
- The stock yesterday firmly closed at the 23.60% Fib of 1.62, thus providing support to play a short-term technical rally.
- Long – Entry 1.62, Target 1.78, Stop 1.55
Jiutian Chemical Group Limited (JIUC SP)
- Shares have formed two bullish flag pattern with rising volumes.
- Both MACD and RSI are constructive
- Long – Entry 0.083, Target 0.090, Stop 0.080
HONG KONG
Budweiser Brewing Company APAC Ltd (1876 HK)
- Shares formed a bullish flag pattern with rising volumes and closed at above the 200dEMA level.
- Both MACD and RSI are constructive.
- Long – Entry: 21.7, Target: 23.0, Stop: 21.0
CRRC Corporation Limited (1766 HK)
- Shares have been trading upward.
- Both MACD and RSI show positive upward momentum.
- Long – Entry: 3.5, Target: 3.62, Stop: 3.45
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