Technically, OUE is certainly attracting its fair share of attention. The moving averages are bunched up and turning positive simultaneously. Quarterly momentum is shooting higher. Volume is rising. Technical indicators can be said to be in place to support further gains. But, for investors with Riady REITs, the experience has been painful. So trade with caution.  OUE- THE EDGE SINGAPORE

 

Elsewhere, Keppel Corp looks like a safer trade. Prices have been entrenched within a narrow range for the past five sessions. Since the low of $4.10 last year, and the breakout of the initial base at $4.50 in November 2020, prices have also stayed within a broader range. While the stock has risen by more than $1.30 from its low, further upside looks very likely. First though, prices need to break above resistance at $5.50 or so. Quarterly momentum appears poised for an upturn at its equilibrium line. In the meantime, the 50- and 100-day moving averages are jostling for a positive cross. If these materialise as volume, currently absent, expands, a further breakout could materialise. In this event, the upside could be at $7. Support is at $5.45.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook