Technical Analysis: 9 March 2022
United States | Singapore | Hong Kong
United States
SolarEdge Technologies Inc (SEDG US)
- Shares formed a cup and handle and are poised to break out.
- Both RSI and MACD remains constructive.
- Long – Entry 320.84, Target 368.35, Stop 299.73
Airbnb Inc (ABNB US)
- Shares formed a triple bottom level and rebounded sharply from this level yesterday.
- RSI indicates a possible reversal from its downtrend while MACD remains laggard. However, the strong support level at approximately $130-$134 provides a buying opportunity.
- Long – Entry 134.35, Target 157.66, Stop 124.74
SINGAPORE
Yangzijiang Shipbuilding SGD (YZJSGD SP)
- Shares are forming higher highs and higher lows after finding support at 1.24. As it stands, the 20d EMA level of around at 1.40 would be an ideal entry point.
- MACD remains constructive while RSI is trending lower, hence a lower positioning is recommended.
- Long – Entry 1.40, Target 1.56, Stop 1.32
Bumitama Agri (BAL SP)
- Shares have formed the cup portion of the “cup and handle” chart pattern, which is bullish.
- RSI is in overbought territory and may lead to consolidation at current levels before breaking out.
- Long – Entry 0.770, Target 0.875, Stop 0.735
HONG KONG
China Datang Corp Renewable Power Co Ltd (1798 HK)
- Shares recently rebound from the 200dMA. Yesterday, the stock closed above the 60dEMA with a jump in volume.
- Both MACD and RSI are constructive.
- Long – Entry: 3.20 Target: 3.57, Stop: 3.00
China Longyuan Power Group Corporation Limited (916 HK)
- Shares are poised to form an inverted head and shoulder pattern.
- Both MACD and RSI are constructive.
- Long – Entry: 15.25, Target: 17.00, Stop: 14.3
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