Singapore stocks have a good run up from last month lows. STI recovered a good 11% but KepCorp had only a mere 8%. It’s among the laggards as it’s stock price has breached resistance at $12 to attain 3 years high. Volume has not picked up to my expectations and both RSI, ADX are showing signs of weakening, though OBV is still strong.
My recommendation is to trim your current position to lock in some profits and hold some for upcoming results announcement and CA. As of now, the immediate resistance will be $13.50, strong support will remain at $12.
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