Technical Analysis: 3 March 2022
United States | Singapore | Hong Kong
United States
Rio Tinto Plc (RIO US)
- Shares formed a cup pattern and broke out yesterday.
- RSI is edging upwards to oversold levels while MACD shows signs of turnaround.
- Long – Entry 80.30, Target 88.12, Stop 76.30
Wynn Resorts Ltd (WYNN US)
- Shares entered are trading within an accumulation zone.
- Strong support level tested multiple times around US$78.
- RSI ticked upward yesterday while MACD remains laggard.
- Long – Entry 83.90, Target 95.07, Stop 78.79
SINGAPORE
Golden Energy & Resources (GER SP)
- Shares gained 14% on higher-than-average trading volumes.
- MACD is about to turn into a bullish crossover while RSI is starting to trend up.
- Long – Entry 0.335, Target 0.425, Stop 0.335
Mermaid Maritime (MMT SP)
- Shares are forming higher highs and higher lows since bottoming out at 0.07 in early 2022.
- Shares may look to break out when volume picks up.
- Long – Entry 0.080, Target 0.090, Stop 0.075
HONG KONG
MMG Ltd (1208 HK)
- Shares closed at a 2-month high with a surge in volume. The stock has been trading within an upward channel since 2022.
- MACD is about to turn positive, and RSI is constructive.
- Long – Entry: 3.00 Target: 3.40, Stop: 2.80
Ganfeng Lithium Co., Ltd. (1772 HK)
- Shares rebounded from the 200dEMA recently. The stock is holding up well within the upward channel.
- RSI is constructive, while MACD shows an early sign of weakness.
- Long – Entry: 128, Target: 141, Stop: 121
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