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. 

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $4.99/month*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe