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Keppel Corp ($10.38) — Breaks below support
Prices have just broken below a support and the level of the still-rising 200-day moving average at $10.70. Last month, prices fell below a double top. The most recent break creates a measured move towards $9.80. Since quarterly momentum has fallen below its support and equilibrium line after a major negative divergence with price, and 21-day RSI is also in sharp retreat, prices look set to trend broadly lower.
Any rebound is likely to be temporary, with resistance at $10.70. A bottom would need to form before a sustained recovery can materialise.
Is 10.10 the bottom?
Rise from 10.10 today to the current price, 10.28.
krisluke ( Date: 12-Nov-2012 11:35) Posted:
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| krisluke ( Date: 09-Nov-2012 16:34) Posted: |
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Forex Analysis: US Dollar Breaks Resistance as S& P 500 Rally Fizzles
By Ilya Spivak, Currency Strategist
US DOLLAR TECHNICAL ANALYSIS– Prices are pulling back to retest resistance-turned-support at 9963, the 38.2% Fibonacci retracement. A break below this boundary exposes the 9874, a level marked by the intersection of a rising channel bottom set from mid-September and a falling channel top established from the June 1 high. Channel resistance is at 9998, with a break above that aiming for the 50% Fib at 10032.
Daily Chart - Created Using FXCM Marketscope 2.0
S& P 500 TECHNICAL ANALYSIS – Prices failed to hold up after a break above the 1424.90-1425.10 area, reversing back downward toward the 1400 figure. This barrier is reinforced by the 38.2% Fibonacci retracement at 1394.30. A drop below the latter level targets the 50% retracement at 1369.40. Alternatively, a push back above the 1424.90-1425.10 region aims for rising channel support-turned-resistance at 1448.40.
Daily Chart - Created Using FXCM Marketscope 2.0
GOLD TECHNICAL ANALYSIS – Prices took out support at 1693.06, the 38.2% Fibonacci retracement, exposing the 50% level at 1661.32 as the next downside objective. A further push below that targets the 61.8% Fib at 1629.58. The 1693.06 level has been recast as near-term resistance. A break back above that eyes the 1732.33-35.65 area anew.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to learn more about RSI? Watch this Video.
CRUDE OIL TECHNICAL ANALYSIS– Prices continue to stall above the 50%Fibonacci expansion at 83.76. Initial resistance lines up at 87.66, the 38.2% Fib, with a break above that targeting a falling trend line set from late September (now at 91.12). Alternatively, a break below 83.76 targets the 80.00 figure and 61.8% level at 79.84.
Daily Chart - Created Using FXCM Marketscope 2.0
Nebraska and Iowa motorists have seen prices at the pump drop more than 40 cents a gallon in the past month — and the next couple of weeks could bring even more good news.
Motorists nationwide have benefited from a trifecta of sorts, said Rose White of AAA Nebraska. The demand for gas has eased following the summer travel season, gas supplies are plentiful and crude oil prices are down.
Even superstorm Sandy, which wreaked havoc on the lives and routines of many East Coast residents, conspired to bolster fuel supplies by knocking out power at gas pumps and canceling thousands of airline flights. In fact, White said, AAA's national office reported that fuel consumption has declined by 1 million to 2 million barrels per day since the hurricane came ashore.
| Some Nebraska and Iowa cities and their recent prices for a gallon of regular unleaded: | |||
|---|---|---|---|
| City | Monday | Week ago | Month ago |
| Omaha | $3.32 | $3.33 | $3.76 |
| Lincoln | $3.43 | $3.47 | $3.80 |
| Des Moines | $3.25 | $3.30 | $3.79 |
| Cedar Rapids | $3.33 | $3.43 | $3.75 |
In the past month, the average price nationally for a gallon of regular unleaded has dropped 40 cents, from $3.80 to Monday's price of $3.40.
For Nebraska, the slide is 42 cents a gallon in the past month, from $3.81 to Monday's $3.39. The average price a week ago was $3.44 a gallon.
Iowa's average has dipped 44 cents a gallon, from $3.77 a month ago to Monday's $3.33. A week ago, Iowa's average was $3.38 per gallon.
Nebraska and Iowa are among the 10 states that have reported the steepest price declines, White said. Other nearby states in the top 10 are Kansas, Missouri, Illinois, Wisconsin and Minnesota.
Prices at the pump are expected to continue to drop ahead of the Thanksgiving travel period, White said.
“We expect retail pump prices to continue to decline to reflect falling crude oil prices and commodity prices for processed unleaded fuel,'' she said. “We are also seeing a wider disparity between the pump price for ethanol fuel and regular unleaded fuel. At some fuel outlets in Nebraska, the price savings on ethanol is more than 15 cents a gallon.”
On Monday, the ethanol price was $3.16 a gallon in Omaha and $3.08 a gallon in Council Bluffs.
The latest Lundberg Survey said regular unleaded prices could fall another 10 cents to 20 cents in the coming weeks. The price drop from Oct. 19 to Nov. 2 was the biggest two-week decline since December 2008, according to Lundberg, an independent market research company.
Thanksgiving travel demand, however, could cause prices to rise a bit “if supplies get tight,'' White said. “But right now, we're sitting on plenty of fuel.''
This report includes material from Bloomberg News.
Tags: Keppel Corp. | Keppel Corporation
| Written by Dow Jones & Co, Inc | |||||
| Tuesday, 06 November 2012 16:46 | |||||
Charts tip investors should avoid rushing into Keppel shares, SIAS Research says. “Although the downtrend remains in force, signs are emerging that prices may be bottoming. A bullish white marubuzo was formed after three days of consolidation,” it says, but notes the recent price surge wasn’t supported by decent volume. “The declining moving averages are negatively placed and momentum remains in decline. Prices need to close above its 200-day moving average at $10.80 to verify this uptick, immediate support is at $10.56 and resistance at $10.80-$11.00 regions. Since indicators are all falling, a break out could still materialise.” The stock is down 2.9% at $10.49. |
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