We could be seeing room for more upside to our resistance target at 4.91. A test of our support at 4.28 presents an opportunity to go long. That said, I want to caution the absence of any ascending trend line which would make the setup clearer. What are your thoughts on this?
Despite roaring positive news, the stock's rally was capped at the supply zone. Hence, we are looking to long at the next potential demand zone highlighted in the chart.
Price is approaching a key support level in line with our fibonacci confluence levels and a break above our descending trend line could see a further upside above this level.
Hmm what's my train of thought on this ticker SGX:BN4 , at first glance, it's bearish .
Just a quick one, I would like to split into two style of trades:
For a scalper :
Mark the area $4.76 to $4.90, that is our waiting zone area.
Once the price break either Support and Resistance, then you know what to do.
If break the Resistance, our TP is at $5.20
If break...
Price is approaching a key support level where we could be seeing a bigger pullback to test our sell entry before a further drop. A break below our downside confirmation level opens room for a bigger drop.
We caught the reversal in price previously and maintain a bearish outlook on Keppel, a test or our sell entry could present a good opportunity for a short.
We maintain our bearish call on Keppel 3 days back and price is holding nicely below a key resistance level where we could see a further drop to our take profit target.
Price is testing our resistance in line with our 100% extension and 61.8% retracement where we could see a reversal below this level. Prices broke out of our previous ascending trend line and we could be seeing a head and shoulders pattern being formed as well.
Price is testing our support in line with our trend line, 78.6% retracement and 100% extension where we could see a bounce to our resistance target. We do caution our descending trend line and a break above this trend line could provide room for a bullish acceleration to our take profit target.
