Technical Analysis: 28 March 2022

United States | Singapore | Hong Kong

United States

Meta Platforms Inc (FB US)

Shares are forming a cup pattern and have been short-term trading at the 5dMA.
Both MACD and RSI are constructive.
Long – Entry 210.94, Target 244.47, Stop 190.92

Albemarle Corp (ALB US)

Shares are on an upward trend and have been short-term trading at the 5dMA.
Both MACD and RSI are constructive.
Long – Entry 204.33, Target 230.18, Stop 191.79

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SINGAPORE

Singtel (ST SP)

Shares finally broke above the key resistance level of 2.60 last Friday, and closed at 2.65. Support is now at 2.60.
MACD and RSI are supportive of further upside momentum.
Long – Entry 2.63, Target 2.87, Stop 2.50

Genting Singapore (GENS SP)

Shares have formed the bullish “cup and pattern” handle. Shares may consolidate last week’s gains before potentially moving higher.
Momentum indicators are mixed, with MACD still positive while RSI indicates overbought conditions.
Long – Entry 0.82, Target 0.88 Stop 0.79

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HONG KONG

CITIC Bank Corporation Limited (998 HK)

Shares gapped up with a surge in volume. The stock tested the previous highs but closed slightly lower. It is poised to fill the gap.
Both MACD and RSI are constructive.
Long – Entry: 3.78 Target: 3.98, Stop: 3.68

Industrial and Commercial Bank of China Limited (1398 HK)

Shares have reversed the downtrend and resumed uptrend with rising volumes.
Both MACD and RSI show an early sign of a turnaround.
Long – Entry: 4.60, Target: 4.82, Stop: 4.50

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