Thursday, November 27, 2014

Keppel Corp (technical)

Keppel Corp: since expectations are low for any positive outcome from tonight's OPEC meeting, traders who think that the negatives have been priced in to KEP stock may consider the counter as a potential rebound play. KEP traded to a low of $9.10 before bouncing back up, and has been consolidating for about two weeks between $9.10 to $9.30. MACD and RSI in the process of recovering but more upside only above the temporary $9.30 resistance level. Above this, expect a recovery back to $9.55, $9.70 then $10 which was the original support it broke down from. Those looking to average down of bargain hunt can consider near $9.10 support.

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