KepCorp chart patterns seem to be trapped in a consolidated mode.
After hitting the high of $6.25 on 7th Mar 2016 it had been drifting lower to close at $6.04 on 23rd Mar. Again today - 24th Mar it has been experienced another gap down this is generally quite bearish.
MACD & RSI are showing some sign of a negative divergence which may be a tell tale sign that the share price may continue to go lower.
Breaking down of $5.82 may see it price head lower to re-test the previous low of $5.50.
(trade base on your own decision)
KEPPEL CORP - 6th March 2016
KEPPEL CORP had a very nice run-up from the low of $4.64 to a high of $6.10 on 4th March 2016.
This is rather bullish.
The current price of $6.10 has been driven into a Overbought situation. It will be good to pull-back/retreat before setting the next direction.
Is always good to lock in part of your profits after such a impressive run. Let the other half roll-on.
After the pull-back we may then again look for a good opportunity to Long/accumulate.
The immediate resistance is in the range of $6.20 to $6.56. It will take a greater force to break through this hurdles.
(trade base on your own decision)
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