Strategy:
Traders can look to buy between S$2.15 – S$2.12 with a stop loss at S$2.03. The 1st target price will be S$2.33 and the 2nd target price at S$2.45.
Technical snapshot:
Keppel DC REIT’s uptrend remain after prices remain well above the uptrend channel and we are adding on to our buy position based on our previous Trendspotter dated 7 June . Price action further indicate a possible continuation to the upside:
- The bullish break above the flag indicate a confirmation of the continuation pattern.
- The break also sees KDC trending above the kumo, indicating the return of the uptrend. Bullish kumo twist of the 26-period leading span A and 52-period leading span B spurs further upside
- MACD histogram is positive.
- Stochastic oscillator is rising, confirming the bullish breadth
- DM+ and ADX are rising above 25, confirming the bullish strength.
