Keppel Corp: A rebound today.... as mentioned, support at 5.50 stil holds....

Heading back to 6.00 again….

Sent: Wednesday, April 06, 2016 11:21 AM
Subject: ************* Keppel Corp: Rebounding from 5.50 support..... Still good for rebound as long as 5.50 holds...

Keppel Corp has traded lower over the past month after hitting a high of above 6.30 last month. It is not back to the key resistance turned support at 8.50 where we are seeing some buying pressure as soon as it nears this level. Those who have already taken profit on the rise previously can also consider accumulating on dips near the 5.50 level with a stop loss at 5.46. As long as this support holds, we can still expect a rebound back to 6.00 then 6.35. A break below 5.50 can see more downside momentum too with MACD crossing below the zero market and downside target to 5.00 then 4.70 which was the low in Feb.