Technically, Keppel Corp is in a base formation with an increasing likelihood of an upside break. The chart appears to have formed at least a temporary or secondary bottom, and looks ready for a rebound as current moves look like they are very much part of a common base formation chart pattern. Volume is relatively low, as prices move sideways which is normal in base formations. Short term indicators are rising after turning up from oversold lows. More recently, quarterly momentum appears poised to move above its own moving average, and this could set the stage for prices to rise above its 50-day moving average at $4.59. A successful breakout, which needs to be confirmed by an expansion in volume, would ready prices for a rally to $4.80 initially. For this to materialise, prices need to hold above $4.40.

See also: To secure Keppel's future, its O&M unit needs to go — with or without Temasek

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