Technically at any rate, Keppel Corp appears increasingly to have formed a low of sorts and is about to challenge the top of a base formation. Its price has moved above its 50-day moving average, now at $4.43, a level which coincides with minor support at $4.40. The top of the base is at $4.61. There are a few caveats to a possible breakout. Volume — currently at an ebb — needs to start rising almost immediately. Secondly, quarterly momentum, which had formed a minor positive divergence in Sept, needs also start rising almost immediately. If these materialise, prices could break above $6.60, indicating an upside of at least $5, a level Keppel hasn’t seen since early Aug. 


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