Keppel Land has ended the down trend after breaking out from the down trend channel. Currently Keppel Land is trading in a Rectangle within the range of $3.77 and $3.27. Range bound for now until the breakout of support or resistance of the rectangle.
See previous post on Keppel Land.
There are a few chart patterns observed in Keppel Land Chart. Keppel Land is currently trading in a Descending Triangle (Range between $3.62 and $3.27). If $3.27 support is broken, Keppel Land will continue the fall in a Down Trend Channel with price target at about $2.70 (also the 161.8% Fibonacci Retracement Level).
Alternate scenario will be Keppel Land breaks the Triangle resistance at about $3.62 and $3.735 (neckline of Double Bottom), this pattern will confirm the trend reversal to upside.
Critical Level to watch:
Last Analysis on Keppel Land.
Keppel Land has formed a “Lower High, Lower Low” and currently trading in a down trend channel. The recent sell off break the 20D & 50D SMA support. Happy Shorting!
See last analysis on Keppel Land: Dead Cat Bounce Over!