Keppel Corporation Limited (SGX:BN4) HEFFX Highlights

Keppel Corporation Limited (SGX:BN4) HEFFX Highlights

Keppel Corporation Limited (SGX:BN4) HEFFX Highlights

Keppel Corporation announced on Friday that it has received approval from the Singapore stock exchange for a proposed listing of a new real estate investment trust (REIT), composed of $820 million in US office assets.

The Singaporean conglomerate, which already manages some S$25 billion ($18.3 billion) in assets under its Keppel Capital division, received an eligibility to list letter from the Singapore Exchange for the REIT, according to an official announcement by the company, which noted that no final decision has been made about following through on the proposed initial public offering.

The REIT, which is aimed at raising $500 million for its sponsors, would be managed together with a division of Newport Beach, California-based property investment group KBS Realty through a new joint venture firm. Keppel Capital, which already manages three Singapore-listed REITs, sees the new listed trust as an opportunity to expand into new geographies, according to a statement by the parent company.

Keppel Corporation Limited is an investment holding and management company. The Company, through its subsidiaries, is engaged in offshore oil-rig construction, shipbuilding, and ship repair and conversion; environmental engineering, power generation, logistics and data centers; property development and investment, and property fund management, and investments. The Company operates in four segments: Offshore & Marine, Infrastructure, Property and Investments. Its Offshore & Marine segment provides offshore rig design, construction, repair and upgrading, ship conversions and repair, and specialized shipbuilding. The Infrastructure segment is engaged in environmental engineering, power generation, and logistics and data centers. The Property segment is engaged in property development and investment, and property fund management. The Investments segment consists of its investments in KrisEnergy Limited, M1 Limited, k1 Ventures Ltd, among others.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 6.45.

The projected upper bound is: 6.89.

The projected lower bound is: 6.62.

The projected closing price is: 6.76.

KEPPEL CORP closed up 0.070 at 6.750. Volume was 54% above average (neutral) and Bollinger Bands were 90% wider than normal.

Open High Low Close Volume___
6.760 6.800 6.710 6.750 4,158,400

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 6.56 6.39 6.46
Volatility: 16 13 19
Volume: 3,643,160 2,606,402 3,774,734

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

KEPPEL CORP gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
KEPPEL CORP is currently 4.4% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into KPLM.SI (mildly bullish). Our trend forecasting oscillators are currently bullish on KPLM.SI and have had this outlook for the last 13 periods. Our momentum oscillator is currently indicating that KPLM.SI is currently in an overbought condition.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 92.0000. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 24 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 75.44. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 219.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 18 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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