Keppel Corp – Getting A Little High
Keppel Corp is a stock that we mentioned in our market outlook article back in January when it was around $6.20. It’s been a month plus and keppel Corp stands at $7.22 today. We feel that it’s reaching resistance for now and a pull back would be healthy.
We have drawn the uptrend channel line which acts as a resistance. A short entry could be around 7.23-7.25 area with a tight stop loss around 7.28-7.30.
What might happen here could be that it might start pulling back from here or if market is still so bullish it could break out from this uptrend line we drew. We’re hoping for some pullback before we can make a re-entry.
Yours
Humbly
Kelwin&Roy
[…] Keppel Corp was a stock we blogged exactly a week back mentioning that it was high and needed a break. It hit our upper trend line and started to pull back. It was at around $7.22 when we spotted it and hit a day low of $6.77. A nice downside for a singapore blue chip. We hope our readers managed to benefit from our sharing once again. […]