Technical Analysis – 6 May 2022
United States | Singapore | Hong Kong
EPAM Systems Inc (EPAM US)
- Shares gapped up and formed a doji pattern with a jump in volume. The 5dEMA is about to cross the 50dEMA.
- Both MACD and RSI are constructive.
- Long – Entry 320, Target 375, Stop 300
Occidental Petroleum Corporation (OXY US)
- Shares closed at a 52-week high with a decent volume. The stock formed a bullish flag pattern on the weekly chart.
- MACD shows strong momentum, while RSI is at an overbought level.
- Long – Entry 60.0, Target 68.3, Stop 56.0
Geo Energy Resources Ltd (RE4 SP)
- Shares rebounded from the 50dEMA with a jump in volume.
- RSI starts to turn upward, while MACD shows weak momentum.
- Long – Entry 0.520, Target 0.570, Stop 0.495
Hongkong Land Holdings Limited (H78 SP)
- Shares rebounded from the recent low with rising volumes.
- Both MACD and RSI start to turn upward.
- Long – Entry 4.80, Target 5.00, Stop 4.70
Haichang Ocean Park Holdings Ltd (2255 HK)
- Shares formed a bullish flag pattern and broke out of the consolidation zone.
- MACD crossed the signal line and is on an upward momentum while RSI is currently at overbought levels.
- Shares are currently trading at an all-time high hence risk-reward ratio positioned at 1:2.
- Long – Entry: 5.58 Target: 6.40, Stop: 5.17
Inner Mongolia Yitai Coal Co Ltd (3948 HK)
- Shares closed above the 5dMA and the previous resistance level yesterday.
- Both RSI and MACD are constructive.
- Long – Entry: 13.32, Target: 15.48, Stop: 12.00
