Keppel Ltd Investment Recommendation: Buy

Technical Analysis of Keppel Ltd

• Short-Term Outlook (1-2 weeks)
  • Recommendation: BUY based on technical analysis.
  • Recent Price Movement: The share price increased by 7.8% since its low of $5.75 in early August 2024.
  • Bullish Indicators:
    • The MACD chart shows a positive signal, with a bullish crossover where the MACD line (blue) crossed above the signal line (orange) in mid-August 2024.
    • The Relative Strength Index (RSI), currently at 56, indicates there is still room for further appreciation before reaching overbought territory (RSI > 70).
  • Resistance: Short-term price resistance is expected at $6.54, which aligns with the trend high observed on 18 July 2024.
  • Support: If price momentum turns negative, support is expected at $6.04, based on the daily low observed on 29 August 2024.
• Medium-Term Outlook
  • Bullish Outlook:
    • Resistance: Medium-term resistance is at $7.00.
    • Support: Support is expected at $5.85.
• Long-Term Outlook
  • Sideways Trend:
    • Resistance: At $7.25.
    • Support: At $5.65.

• Company: Lim & Tan Securities
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