Technical Analysis: 30 December 2021

United States | Singapore | Hong Kong

UNITED STATES

Visa Inc (V US)

Shares forms an inverted head and shoulder pattern.
200dEMA is the next resistance which was tested a few times over the past couple of trading days.
Both MACD and RSI are showing positive upward momentum.
Long – Entry 217.5, Target 230, Stop 212

Macy’s Inc (M US)

Shares have bottomed out from the recent low as it closed at above the 5dEMA for 5 consecutive trading days with an increase in volume.
MACD shows early sign of upward momentum, and RSI is turning positive.
Long – Entry 25.5, Target 28.5, Stop 24

SINGAPORE

OCBC (OCBC SP)

MACD formed a bullish crossover while RSI is on a positive momentum.
Shares have traded above the 20d EMA, which was previously a resistance level.
Long – Entry 11.44, Target 11.98, Stop 11.13

Frencken (FRKN SP)

MACD formed a bullish crossover yesterday on two days of buying volume that were higher-than-average.
Shares are currently supported at the upper bound of previous support levels, and coincidentally also the 50% Fib of 1.82
Long – Entry 1.90, Target 2.20, Stop 1.75

HONG KONG

HSBC Holdings PLC (5 HK)

Shares form a head and shoulder pattern. Meanwhile, it closed the gap on 4th/5th November.
Both MACD and RSI are constructive.
Long – Entry: 46.5, Target: 48.0, Stop: 46.0

CSSC Offshore and Marine Engineering Group Co Ltd (317 HK)

Shares form a bullish flag pattern with an increase in volume.
Both MACD and RSI are constructive.
Long – Entry: 7.8, Target: 8.5, Stop: 7.5

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