Technical Analysis: 7 January 2022
United States | Singapore | Hong Kong
United States
Exxon Mobil Corporation (XOM US)
- Shares gapped up and closed above the 5dMA, breaking the previous resistance level (~US$ 66.4).
- Both MACD and RSI are on an upward momentum.
- Next resistance level (~US$ 70.3) was last seen in December 2019.
- Long – Entry 66.41, Target 70.33, Stop 64.11
Taiwan Semiconductor Manufacturing Company (TSMC US)
- Shares closed above the 5dMA yesterday on higher-than-average trading volume.
- Previous resistance level is now the short-term support level (~US$125.2).
- Both MACD and RSI are on an upward momentum.
- Long – Entry 125.16, Target 133.42, Stop 121.71
SINGAPORE
Wilmar (WIL SP)
- Shares are now trading at the critical 50% Fib of 4.25, which is likely to act as a strong support.
- MACD and RSI are both on an uptrend that suggest further upside.
- Long – Entry 4.25, Target 4.58, Stop 4.08
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 by as much as 30% from the depths of the sell-off.
- Long – Entry 1.86, Target 1.98, Stop 1.80
HONG KONG
China National Building Material Co Ltd (3323 HK)
- Shares closed at above the 200dEMA since October 2021 with a surge in volume.
- MACD shows an early sign of turnaround, and RSI is constructive.
- Long – Entry: 9.6, Target: 10.6, Stop: 9.1
China Construction Bank (939 HK)
- Shares touched the 5dEMA and closed at the previous day’s opening price.
- MACD shows strong upward momentum, but RSI shows the stock is overbought.
- Long – Entry: 5.45, Target: 5.85, Stop: 5.25
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