Friday, April 4th, 2025

Keppel Corp Ltd – Bullish Continuation is Back 2

Broker: CGS-CIMB Research Date of Report: March 21, 2025

Trendspotter: Bullish Continuation Signals for Keppel Corp and Other Top Stocks

Keppel Corp Ltd: Bullish Continuation is Back

Keppel Corp Ltd (KEP) has reached beyond our previous price target of S$7.04, and the technical picture remains strongly bullish. Here’s a closer look at the key signals:
KEP has broken above a bullish flag pattern with two consecutive strong bullish candles, indicating renewed momentum.
The weekly chart shows a robust bullish rectangle pattern, with the key resistance at S$6.94 tested multiple times and likely weakened, increasing the probability of a breakout.
Prices are trading firmly above all Ichimoku indicators, a bullish sign.
The MACD and signal line continue to stay elevated above the zero line, while the 23-period ROC has risen above zero.
The Directional Movement Index reflects strong bullish strength.
Trading volume remains healthy, supporting the uptrend.
Given these technical factors, we are adding to our existing technical buy position on KEP. Our new target prices are S$7.20, S$7.40, S$8.01, and S$8.50.

CSPC Pharmaceutical Group Ltd (1093): Technical Buy

Entry Prices: S$5.18, S$4.90, S$4.40 Stop Loss: S$4.15 Target Prices: S$6.00, S$6.80, S$8.70, S$10.00
CSPC Pharmaceutical has presented a compelling technical setup, with entry points identified at S$5.18, S$4.90, and S$4.40. The stock’s upside potential is significant, with target prices ranging from S$6.00 to S$10.00.

China Water Affairs Group Ltd (855): Technical Buy

Entry Prices: S$6.35, S$5.90, S$5.40 Stop Loss: S$5.24 Target Prices: S$7.10, S$8.90, S$9.90, S$11.00
China Water Affairs Group also offers an attractive technical opportunity, with entry points at S$6.35, S$5.90, and S$5.40. The stock’s upside targets are S$7.10, S$8.90, S$9.90, and S$11.00.

AAC Technologies: Higher Gross Profit Margins Driven by Optics and Metal Casing

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The company is expected to continue expanding its revenue from Apple in 2025-26, driven by AI-powered component upgrades.
We reiterate our Add rating on AAC, with a higher target price of HK$63.00 based on a 25x FY26F P/E multiple.

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