Technical Analysis: 4 February 2022
United States | Singapore | Hong Kong
UNITED STATES
Cleveland-Cliffs Inc (CLF US)
- Shares broke out of the consolidation zone and closed above the 5dMA yesterday.
- RSI is on a positive momentum while MACD has just reversed the downtrend and just crossed the signal line.
- Long – Entry 17.95, Target 21.19, Stop 16.23
Costco Wholesale Corporation (COST US)
- Shares are forming a cup pattern.
- Shares closed above the 5dMA yesterday.
- 5dMA has crossed the 20dMA and looks like about to cross the 60dMA as well.
- Both RSI and MACD are on a positive momentum.
- Long – Entry 510.08, Target 547.02, Stop 493.07
SINGAPORE
Olam International (OLAM SP)
- Shares were firmly supported at the 200d EMA of 1.66
- MACD is starting to form a positive crossover, indicative of further upside.
- Long – Entry 1.72, Target 1.92, Stop 1.66
Jiutian Chemical (JIUC SP)
- Uptrend is still intact for Jiutian, with higher-than-average buying volumes over the past two trading sessions.
- Long – Entry 0.087, Target 0.100, Stop 0.080
HONG KONG
Smoore International Holdings Ltd (6969 HK)
- Shares pulled back to the support level which was tested for multiple times.
- MACD is about to turn negative, and RSI remains weak.
- Long – Entry: 32.5, Target: 35.5, Stop: 31.0
China Petroleum & Chemical Corporation (386 HK)
- Shares formed a cup and handle pattern.
- RSI remains constructive, and MACD shows an early sign of weak momentum.
- Long – Entry: 4.05, Target: 4.30, Stop: 3.96
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