Technical Analysis: 7 December 2021
United States | Singapore | Hong Kong
UNITED STATES
McCormick & Company, Inc (MKC US)
- Shares had 4 consecutive days of gains and gapped up yesterday, closing above the previous resistance level
- Strong support at 5dMA
- Both RSI and MACD shows strong positive momentum
- Long – Entry 88.5, Target 91.9, Stop 86.7
Caterpillar Inc (CAT US)
- Shares gapped up yesterday and closed above the 5dMA
- RSI shows a positive momentum and MACD looks like about to cross the signal line
- 5dMA looks like about to cross the 20dMA
- Long – Entry 199.4, Target 210.7, Stop 196.1
SINGAPORE
Rex International Holding Ltd (REXI SP)
- Shares opened at above the 60dEMA level and started to reverse the downtrend.
- Both MACD and RSI showed weak momentum remained but was about to turn.
- The near-term support is at 60dEMA level.
- Long – Entry 0.285, Target 0.315, Stop 0.270
SATS Ltd (SATS SP)
- Shares recently rebounded from the selloff with a surge in volume.
- Both MACD and RSI showed weak momentum remained but was about to turn.
- Long – Entry 3.85, Target 4.00, Stop 3.78
HONG KONG
China Merchants Bank Co., Ltd. (3968 HK)
- Shares formed a triangle pattern, and prices recovered for 4 consecutive trading days with an increase in volume.
- Both MACD and RSI showed early signs of upward momentum.
- Long – Entry: 63.5, Target: 66.5, Stop: 62
China National Building Material Co Ltd (3323 HK)
- Shares broke out of the downward channel.
- Both MACD and RSI were constructive, implying positive upward momentum.
- Long – Entry: 9.1, Target: 9.75, Stop: 8.75
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