Keppel Corp - Establishing new high. Chart and short term views

Keppel corp established new 20 days high this morning. The counter has been bolstered by recent strong result as well as firmer oil price.

For those who had follow my call earlier in February (when it is trading around 8.30 region), it may be a good time to take some profit. Based on chart (attached below), I believe it will try for 8.90-9.00 region before coming back down.

This counter remains on an uptrend, and interestingly, seems to be displaying a flag and pennant pattern. So I will wait for a correction, to buy back the share, while taking profit when it rally.

My last note on kepcorp is on 1 Feb at this link: mlstrategicinvestment.blogspot.com/2010/02/keppel-corp-won-1-billion-contract-from.html

For your reading pleasure.
 

This blog is a selections of my investment views to my client. If you find it useful or have additional information to share, please do let me know. These blogs are my personal views and is not meant to solicit any sales or investment on any securities or investment. I may have vested interest in some of the counters or investment products, hence please invest at your own risk. As usual invest in what you understand and do your own homework.


ML is a licensed stockbroker with one of Asia Leading Stock Broker firm. To contact him, please email: icewolfmike@gmail.com