Keppel Corp (technical)

Keppel Corp: the gap down and break below the $9 pyschological level on high volume bodes negatively for the stock, particularly as the counter continues to step down to new multi year lows. Looking at the long term Fibo chart, next support is at $8.60 (62% retracement from the 2013 peak), followed by $7.80 in extension (79% from peak).