Kepland is turning down again after the recent rebound. Keppel Land has failed to break the resistances at about $2.75 – $2.80 (Support Turned Resistance Down trend line, 50% FR, 50D MA). Expect Kepland to continue to slide to the next support at $2.34 (38.2% FR) followed by $1.77 (23.6% FR).
Kepland is trading in a down trend although rebounded from the 50% Fibonacci Support.
Immediate resistance is the 61.8% Fibonacci Resistance at $3.665, followed by next important resistances at around $4.00 to $4.20 region. $4.20 is the 200D MA resistance. Failing to break above $4.20 continues the downtrend for Kepland.
Keppel Land (Kepland)’s uptrend ended after breaking down from the Falling Wedge and break the uptrend support. A Bullish Harami candlestick pattern was formed at 78.6% Fibonacci Retracement Support Level and thus expect KepLand to consolidate around $4.19. Also take note that this $4.19 is also the 200D MA support. Next support are $3.85 followed by $3.514 (61.8% Fibonacci Retracement Level) if Kepland breaks this 200D MA support.
