Keppel Corp – Testing the resistance for the 3rd time!

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Keppel Corp is testing the $8.45 resistance for the 3rd time! If it cannot break the resistance, a triple tops may be formed. There is also a divergence in price vs volume. If tomorrow market open gap down and end with a bearish candle, an Evening Star is formed and the trend will be reversed. The price may move down to around $7.00 level.

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Capitaland – forming a Triple Tops?

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Today Capitaland looks like having a breakout from a triangle. The stock price is also moving away from the 20D & 50D MA support line. MACD is showing bullish convergence again. Is Capitaland forming a Triple Tops first before reversing the trend? I will still continue to stay out of this stock because upside is limited as it has very strong resistance at $4.14. Downside probabality is much higher than upside probability, upside potential is only 7.8% (from $3.84 to $4.14) while downside is 16% ($3.84 to $3.22). $3.22 is next support level base on 61.8% Fibonacci Retracement.

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