Keppel Ltd Investment Recommendation: Buy
Technical Analysis of Keppel Ltd
- Short-Term Outlook (1-2 weeks)
- Recommendation: BUY based on technical analysis.
- Recent Price Movement: The share price increased by 7.8% since its low of $5.75 in early August 2024.
- Bullish Indicators:
- The MACD chart shows a positive signal, with a bullish crossover where the MACD line (blue) crossed above the signal line (orange) in mid-August 2024.
- The Relative Strength Index (RSI), currently at 56, indicates there is still room for further appreciation before reaching overbought territory (RSI > 70).
- Resistance: Short-term price resistance is expected at $6.54, which aligns with the trend high observed on 18 July 2024.
- Support: If price momentum turns negative, support is expected at $6.04, based on the daily low observed on 29 August 2024.
- Medium-Term Outlook
- Bullish Outlook:
- Resistance: Medium-term resistance is at $7.00.
- Support: Support is expected at $5.85.
- Long-Term Outlook
- Sideways Trend:
- Resistance: At $7.25.
- Support: At $5.65.
- Company: Lim & Tan Securities
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