Keppel readies for a break, caution on OUE surge, respite for STI

Elsewhere, Keppel Corp looks like a safer trade. Prices have been entrenched within a narrow range for the past five sessions. Since the low of $4.10 last year, and the breakout of the initial base at $4.50 in November 2020, prices have also stayed within a broader range. While the stock has risen by more than $1.30 from its low, further upside looks very likely. First though, prices need to break above resistance at $5.50 or so. Quarterly momentum appears poised for an upturn at its equilibrium line. In the meantime, the 50- and 100-day moving averages are jostling for a positive cross. If these materialise as volume, currently absent, expands, a further breakout could materialise. In this event, the upside could be at $7. Support is at $5.45.