Technical Analysis: 4 November 2021

United States | Singapore | Hong Kong

UNITED STATES

Boeing Company (The) (BA US)

BA US (Source: Bloomberg)

Range bound trade with strong support at 204.7, which formed a double bottom. Strong resistance level around 228.7, which over the last month was unable to break out. Shares near-term supported around the 5dMA.
Convergence of MACD and signal line, showing positive signal for potential crossover, expected catalyst to be reopening themed plays in the upcoming fourth quarter
Long – Entry: 210.7, Target: 228.7, Stop: 204.7

Meta Platforms Inc (FB US)

FB US (Source: Bloomberg)

Positive signal shown as 5dMA touched the 20dMA, while MACD line has crossed the signal line.
Relatively strong volume over the last week after Facebook renamed itself to Meta Platforms. Positive momentum is expected to continue as a recent lawsuit case has been priced in. Limited exposure to supply chain headwinds moving into the fourth quarter being a software service provider.
Long – Entry: 330.7, Target: 344.1, Stop: 324.2

SINGAPORE

Geo Energy (GERL SP)

GERL SP (Source: Bloomberg)

Clear downtrend after peaking on 15 October, with near term support at 50d MA at 0.305.
Upcoming 3Q earnings likely on 12 Nov (Fri), which could provide a short term trading play if dividends announced are higher than expected.
Long Entry 0.305 Target 0.35 Stop 0.28

Frencken (FRKN SP)

FRKN SP (Source: Bloomberg)

Shares have been consolidating around 2.0-2.50 since 5 Aug, due to a lack of clear catalyst.
Shares are trading along the 50d MA since the start of the year, and could provide an opportunity to accumulate. A better than expected 3Q business update next week could provide the much needed catalyst for shares to break out.
Long Entry 2.30 Target 2.50 Stop 2.20

HONG KONG

Hua Hong Semiconductor Ltd (1347 HK)

1347 HK (Source: Bloomberg)

It is the 3rd time breaking out of the trading range between HK$37.5 and HK$44.5 after the February sell-off.

Both MACD and RSI are constructive, pointing to a bullish momentum. 3Q21 results will be out on 11th November.
Long – Entry: 46, Target: 52, Stop: 44

Nexteer Automotive Group Ltd (1316 HK)

1316 HK (Source: Bloomberg)

It formed a cup and handle pattern then broke out the handle, implying a bullish signal for the next movements.

Both MACD and RSI showed a strong upward momentum. Short-term exponential moving average lines (5d, 20d, and 60d) are trending upward. Downside supports are 60dEMA of HK$9.1 and 120dEMA of HK$9.25.
Long – Entry: 9.4, Target: 11.6, Stop: 8.8

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