Strategy:
Traders can look to buy between S$6.56 – S$6.76, with a stop loss at S$6.34. The 1st target price will be S$7.19. 2nd Target price will be at S$7.40.
Technical snapshot:
Keppel Corp’s previous sell call may be invalidated after a strong break above the falling wedge was seen as a bullish continuation signal. Furthermore, the stock is seen completing its 3-wave correction potentially:
- The bullish break above the resistance turned support at S$6.56 is signaling a return of the upside.
- Prices are trending above all ichimoku’s indicators.
- Trend remain steady on the upside.
- However, S$6.91-S$7.00 resistance will be a crucial resistance to watch for, rejecting it may see Keppel revert lower testing the major support at S$6.00.