Keppel Corp (technical)

Keppel Corp: has been whip sawing around an almost horizontal 200day MA over the past 24 months. The trend appears negative for now, with the counter having broken below several key support levels. Meanwhile the 50day MA looks close to initiating a negative cross of the 200day MA, which would be an added negative signal. The key indicators suggest that momentum is bearish. See downside to $10.20 , and then to firmer support at the pyschological $10 barrier , in extension. Would look to revise our view if the stock can rebound past the $10.60 near term cap.