Home Capital Right Timing

Battered blue chips show signs of life as STI rallies

The Edge Singapore
The Edge Singapore 11/6/2020 09:24 PM GMT+08  • 2 min read
Battered blue chips show signs of life as STI rallies
Keppel Corp has broken out of a base formation setting an upside of $5. The STI has strengthened, but may not follow through.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Keppel Corp has broken out of a base formation at $4.60, indicating an upside of at least $5, a level not seen since August. The 50-day moving average has turned up, supporting the breakout. Quarterly momentum which had pummeled two-year lows, has turned up after a minor positive divergence. It has yet to break above its equilibrium line. Although volume expanded on Keppel’s breakout, it was not a spectacular rise. Hence, prices may stay around the $4.65 range for a few sessions before heading higher.

Elsewhere, Singapore Airlines appears to be in the midst of a base formation, evidenced by negligible volume, and a narrow trading range over the past two months. A trigger — as yet unknown — could cause a breakout.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.