Technical Analysis: 29 November 2021
United States | Singapore | Hong Kong
UNITED STATES
Moderna Inc (MRNA US)
- Shares gapped up on Friday on huge volume
- 5dMA crossed the 20dMA on Friday
- Both RSI and MACD shows strong positive momentum
- To long at 60dMA and stop loss at 200dMA
- Long – Entry 312.0, Target 357.4, Stop 298.9
Snowflake Inc (SNOW US)
- Shares had 3 consecutive days of gains; 5dMA about to cross 20dMA
- RSI shows a reversal from downtrend
- To long at 5dMA and stop loss at 60dMA
- Long – Entry 362.6, Target 405.3, Stop 339.2
SINGAPORE
Olam International (OLAM SP)
- Shares formed a cup and handle pattern and have broken out to form a new 52-week high increasing volume.
- MACD still shows positive momentum, but may be tampered by RSI at overbought levels.
- Long – Entry 1.78, Target 1.95, Stop 1.70
Q&M Dental (QNM SP)
- Shares are well supported at the 200d EMA, providing limited downside risk.
- Both MACD and RSI are constructive, showing upward momentum.
- Long – Entry 0.60, Target 0.67, Stop 0.56
HONG KONG
Kintor Pharmaceutical Ltd (9939 HK)
- Shares formed a bullish engulfing pattern last Friday.
- Previously it broke out the downward channel and managed to trade above 200dEMA.
- It pulled back to near 200dEMA level and retested it twice. 200dEMA (HK$50.2) will be the near-term support. It is poised to break above the consolidation lasted for two weeks previously.
- MACD showed an early sign of weak momentum, but RSI is constructive.
- Long – Entry: 59 (but stop), Target: 69, Stop: 54
Smoore International Holdings Ltd (6969 HK)
- Shares managed to break out the trading range and maintained the upward momentum.
- 5dEMA is the trend line for entry and 200dEMA is the near-term support.
- MACD and RSI were constructive, showing strong bullish momentum.
- Long – Entry: 49, Target: 60, Stop: 45.5
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