On Friday, Kepcorp re-tested its support at $8.69 and closed at $8.75 with LOW volume of 2.79 million shares traded.
A black candle sticks with short lower shadow affirm that the support is still firm and prevent prices from falling further.
RSI & MACD are neutral though the selling pressure has eased.
Important Resistance of Kepcorp: $9
Immediate Support of Kepcorp: $8.69
Currently prices are supported by technical/50 days MA while resisted by 20/100 days MA.
The prices seem to find a soft support at $8.69 as it trend along for the past 2 weeks.
Investors who are interested in the fundamental of Kepcorp can proceed to buy near $8.69 support level.
However we would like to remind investors that the falling oil prices may actually create selling pressure for the offshore rig company.
On Friday, CDL HTrust re-tested its resistance turned support at $2.05 and closed at $2.07 with LOW volume of 1.62 million shares traded.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Both RSI & MACD are bullish as MACD about to perform a “golden cross”
Important Resistance of CDL HTrust: $2.11
Immediate Support of CDL HTrust: $2.05
Currently prices are way above the 20/50/100/200 days MA
We would not recommend buying now since the breakout on 20/Aug was rather weak with LOW trading volume which indicates the lack of conviction from the market.
Thus we would rather buy on pullback when prices near 100 days MA which has been supporting CDL HTrust since April 2009.
Singapore tourism business has been booming for the past months and one of the companies which will benefit from this up break would be CDL HTrust.
Singstocks.com recommends a BUY on this counter! See below for more investor information on this company.
http://cdlhtrust.listedcompany.com/overview.html
Be The First To Comment