Technical Analysis: 6 January 2022
United States | Singapore | Hong Kong
United States
Coca-Cola Company (KO US)
- Shares closed above the 5dMA and reached an an all-time high yesterday.
- Both MACD and RSI are on an upward momentum.
- Risk-reward ratio determined 1:2 as shares are trading at an all-time high.
- Long – Entry 59.97, Target 62.05, Stop 58.93
United States Steel Corporation (X US)
- Shares closed above the 5dMA yesterday and is forming a cup pattern.
- Shares filled the previous gap down.
- Both MACD and RSI are on an upward momentum.
- Long – Entry 24.71, Target 26.88, Stop 23.85
SINGAPORE
SGX (SGX SP)
- Chart pattern bears similarity to May 2021 when it consolidated for almost two months before breaking out on the upside.
- MACD and RSI are both on an uptrend that suggest further upside. Recommended entry level at the 50d EMA of 9.49.
- Long – Entry 9.49, Target 10.12, Stop 9.20
Mapletree Commercial Trust (MCT SP)
- MCT dropped more than 17% from the recent peak, a similar drop the stock experienced back in Sep-Oct 2021.
- RSI indicates severely oversold conditions. Following the 16% decline last Sep, MCT rebounded as much as 30% from depth of the sell-off.
- Long – Entry 1.82, Target 1.98, Stop 1.75
HONG KONG
Bank of Communications Co Ltd (3328 HK)
- Shares retested the high since November.
- MACD shows an early sign of turnaround, and RSI is constructive.
- Long – Entry: 4.80, Target: 5.05, Stop: 4.70
Hua Hong Semiconductor Ltd (1347 HK)
- Shares are retesting the key supporting level which proved to be a strong support.
- MACD shows a bit of weakness, and RSI is heading to an oversold level.
- Long – Entry: 38.5, Target: 44.5, Stop: 37.5
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