Technical Analysis: 4 March 2022
United States | Singapore | Hong Kong
United States
Newmont Corporation (NEM US)
- Shares are poised to form a cup pattern.
- Shares are on an uptrend, forming higher highs and higher lows.
- RSI might enter the overbought territory soon while MACD remains constructive.
- Long – Entry 69.36, Target 74.34, Stop 66.87
Caterpillar Inc (CAT US)
- Shares rebounded from oversold levels (RSI <30) and closed above the 5dMA yesterday.
- MACD is showing signs of turnaround from its downtrend.
- Long – Entry 191.04, Target 205.41, Stop 185.05
SINGAPORE
First Resources (FR SP)
- Shares have formed the cup and handle chart pattern, a bullish signal.
- Buying in the past few days has been accompanied by higher-than-average trading volumes, with MACD still still showing positive momentum.
- Long – Entry 1.96, Target 2.16, Stop 1.86
Mermaid Maritime (MMT SP)
- Shares surged yesterday on higher-than-average trading volume.
- Shares are forming higher highs and higher lows since bottoming out at 0.07 in early 2022.
- Long – Entry 0.084, Target 0.100, Stop 0.078
HONG KONG
China XLX Fertiliser Ltd (1866 HK)
- Shares closed at a 5-month high with a jump in volume. The stock has been trending upward.
- MACD is about to turn positive, and RSI is constructive.
- Long – Entry: 6.50 Target: 7.35, Stop: 6.10
Theme International Holdings Limited (990 HK)
- Shares formed a bullish flag pattern with rising volumes.
- MACD is constructive, while RSI is at an overbought level.
- Long – Entry: 1.25, Target: 1.43, Stop: 1.15
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