Title: Trendspotter – Singapore Retail Research | March 7, 2025
Broker: CGS-CIMB Research
Singapore Land Group Ltd – Bullish Reversal in an Early Stage
2 Singapore Land Group Limited is showing signs of an early uptrend and is poised to go higher based on the strong price action display of a strong bullish reversal signal. The stock has confirmed an inverted head and shoulder pattern after prices broke above the resistance turned support at S$1.95. The weekly chart shows a larger corrective falling wedge pattern, and within this pattern, the downtrend line which started since July 2022 has been broken, indicating a return of the upside. Furthermore, the stock is on the rise after trending above the 20 and 50-day exponential moving averages, which have also performed a crossover. The 14-period Relative Strength Index also shows strong bullish divergence.
2 Prices are trending above all Ichimoku indicators, and the MACD histogram is positive with the MACD/signal line rising steadily above the zero line. The Stochastic Oscillator is also rising, and the 23-period Rate of Change is rising steadily and has closed above the zero line. The Directional Movement Index is showing strong signs of bullish strength, and the volume has been expanding in a healthy fashion.
3 The analyst recommends a Technical Buy on Singapore Land Group Ltd, with entry prices at S$2.03, S$1.94, and S$1.82. The stop loss is placed at S$1.76, and the target prices are set at S$2.25, S$2.85, S$3.00, and S$3.50.
CLP Holdings Ltd (2) – Technical Buy
2 The research report also covers CLP Holdings Ltd, with a Technical Buy recommendation. The entry prices are set at HK$66.25, HK$64.20, and HK$63.20, with a stop loss at HK$61.55. The target prices are HK$71.50, HK$78.70, HK$88.50, and HK$94.00.
Kuaishou Technology (1024) – Technical Buy
2 Kuaishou Technology is also rated as a Technical Buy, with entry prices at HK$60.80, HK$56.00, and HK$48.00. The stop loss is placed at HK$43.65, and the target prices are HK$75.50, HK$82.70, HK$117.50, and HK$179.00.
