Sunday, 17 January 2016

Keppel Corp - signs of oversold?

I seldom put up speculative posts, but can't resist one here. Maybe signs of oversold have been long overdue but now is SUPER oversold.

BN4
All time high this year: $9.54
All time low this year: $4.82

RSI is at extreme low of 30.67.

Volumes are higher than usual last week plus consecutive price falls are indicative of big sell-down. Are investors capitulating or what? (And I also wonder if brokerages have enough shares to lend those short traders.)

DateOpenHighLowCloseVolumeAdj Close*
Jan 15, 20164.954.984.824.8410,188,0004.84
Jan 14, 20164.975.004.864.8617,776,1004.86
Jan 13, 20165.215.285.105.1914,299,3005.19
Jan 12, 20165.505.535.155.1518,285,7005.15
Jan 11, 20165.705.715.505.5411,156,5005.54
Jan 8, 20165.685.915.625.8013,107,6005.80
Jan 7, 20166.156.155.815.8219,195,8005.82
Jan 6, 20166.426.436.216.239,350,4006.23

Bollinger band is no where near narrowing, guess the price would fall further but should be seeing consolidation soon if volume dwindles in the coming weeks. 1 year low touched: $3.56

No near term signs of reversal (but I think might be near).

The Sete Brasil threat is still on the brink. The outcome would impact its share price and determine the coming support level.
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A side note for DBS: No buy
1 year RSI 34.41
5 years low: $11.52
Bargain pick point below $12?

A side note for OCBC: No buy
1 year RSI 36.63
Retesting 5 years low at $7.66
Wait and see if will support or break below.

I seldom work with TA, so anyone with differing views / indicators usage please enlighten.

Just wondering is there any point in buying STI ETF if one want to bottom-fish the worst performing big blue chips in the STI ETF (since the strength of STI recovery is dependent on these unwell big fishes).

My take now is to nibble slowly alas get indigestion.

******
Mini update from external source:

Analysts came up with an article today 19/01/16 saying that the Keppel share price has fallen to the point where O&M sectored has been valued to below zero - http://singaporestockmarketnews.com/2016/01/keppel-corp-buy-keppel-and-get-offshore-division-free/


Disclaimer: The information here is for reference purpose and does not serve as investment advice. Please exercise your own discretion in using them.

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