Keppel Corp – Just Sitting On a Critical Support Level

Keppel Corp is currently sitting on a critical support level. This support is a combination of up trend support, 200D MA and 23.6% Fibonacci Retracement Level. If this support is broken, Kep Corp chart will be bearish and may go down to $7.527 (38.2% Fibonacci Retracement Level). The next two immediate resistance will be 20D MA (about $8.70) and 50D MA ($9.10). Base on the support and resistance of the chart (on top of the current market sentiment) downside risk (10%) is higher while upside potential (5%) is limited.

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