KGI Research Singapore

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Technical Analysis: 28 February 2022

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United States

Exxon Mobil Corporation (XOM US)

  • Shares closed above the 5dMA and 20dMA on Friday.
  • RSI shows signs of turnaround however MACD is laggard.
  • WTI and Brent crude futures jumped today hence recommended to long oil sector related stocks.
  • Long – Entry 77.01, Target 82.53, Stop 74.18

Cleveland-Cliffs Inc (CLF US)

  • Shares registered large gains over the past two trading days and closed above the 5dMA and 20dMA on Friday.
  • 5dMA crossed the 20dMA on Friday.
  • RSI and MACD are constructive.
  • Long – Entry 19.80, Target 23.37, Stop 18.36

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Singtel (ST SP)

  • Shares recently formed the cup of the “cup and handle” chart pattern, which is a bullish set up for shares to go higher.
  • On a longer-term horizon, shares bottomed out in 4Q2020 and have been trending upward with key resistance at 2.60. Recent buying up of shares is accompanied by higher-than-average trading volume and is supportive of shares finally breaking out of the resistance.  
  • Long – Entry 2.60, Target 2.86, Stop 2.48

First Resources (FR SP)

  • Both momentum indicators (MACD and RSI) are still supportive of further share price upside as it forms higher highs and higher lows. 
  • Shares have also formed the “cup and handle” chart pattern which is bullish. 
  • Long – Entry 1.84, Target 2.00, Stop 1.76

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 Budweiser Brewing Company APAC Ltd (1876 HK)

  • Shares are trading within a steep upward channel. The stock saw a surge in volumes over the past two trading days. 
  • MACD shows strong momentum, while RSI is at an overbought level. 
  • Long – Entry: 24 Target: 26, Stop: 23

China Power International Development Limited (2380 HK)

  • Shares broke out from the downward channel with an increase in volumes.
  • MACD shows an early sign of turnaround, and RSI starts to turn positive. 
  • Long – Entry: 4.10., Target: 4.68, Stop: 3.90

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