United States | Singapore | Hong Kong

UNITED STATES

Alcoa Corporation (AA US)

• Shares broke out from the previous resistance levels and hit an all-time high yesterday.
• RSI is showing signs of possible overbuying conditions, while MACD looks constructive.
• Recommend to wait for correction and enter at the previous resistance level.
• As shares are at an all-time high, risk-reward ratio determined 1:2.
• Long – Entry 65.77, Target 76.09, Stop 60.61

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MGM Resorts International (MGM US)

• Shares are on a positive healthy uptrend.
• Shares gapped up and broke the strong resistance level (~US$46.5) yesterday.
• Both RSI and MACD are constructive.
• Long – Entry 46.47, Target 49.03, Stop 45.26

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SINGAPORE

Yangzijiang Shipbuilding (YZJSGD SP)

• Bullish MACD crossover last week, indicating further upside potential. Share price gains over the past 2 days on higher-than-average trading volumes. 
• Long – Entry 1.39, Target 1.56, Stop 1.32

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Geo Energy Resources (GERL SP)

• Cup & Handle pattern forming, which is positive. 
• MACD is still supportive of further upside, while RSI at overbought territory indicates that shares may consolidate at the 0.40 to 0.42 levels, to form the handle of the “cup and handle” chart pattern, before the next break higher. 
• Long – Entry 0.40, Target 0.46, Stop 0.37

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HONG KONG

China Hongqiao Group Ltd (1378 HK)

• Shares have been consolidating at around the 200dEMA. It tried to break out the base several times. The stock almost closed at the intraday high with a surge in volume.
• MACD shows weak momentum, while RSI remains constructive.
• Long – Entry: 9.2, Target: 10.2, Stop: 8.7

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COSCO SHIPPING Holdings (1919 HK)

• Shares broke out from the consolidation base with a jump in volume.
• MACD is about to turn positive, and RSI remains constructive. 
• Long – Entry: 15.0, Target: 16.0, Stop: 14.5

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