Stocks with Momentum: City Developments and Singapore Airlines

April 23, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we’re highlighting City Developments Ltd (SGX: C09) and Singapore Airlines Ltd (SGX: C6L) as both share prices show strong potential rebound.

Below are some key highlights from the technical reports:

City Developments Limited (CDL)

  • Market Position: City Developments Limited remains a ‘Technical Buy’ following a forceful rebound at the buy limit price of S$5.62, with the stock demonstrating significant signs of a potential reversal.
  • Entry Prices and Support Levels: Entry prices are suggested at S$5.90, S$5.68, and S$5.60, with crucial support levels identified at S$5.76 and S$5.55.
  • Stop Loss and Resistance Levels: A stop loss is proposed at S$5.46 to manage risk, and resistance levels are anticipated at S$6.19 and S$6.85.
  • Target Prices: Based on technical analysis, target prices are established at S$6.26, S$6.42, S$6.85, and S$7.04.
  • Company Overview: City Developments Limited engages in the real estate sector, offering services related to the rental, purchase, and sale of residential, commercial, and hospitality properties, alongside providing consultancy services, with operations centered in Singapore.

For a more detailed analysis, click on the link to access the report.

Singapore Airlines Ltd

  • Market Position: Singapore Airlines is eyed as a ‘Technical Buy’ following its ascent beyond the previous final target price of S$7.32 and subsequent downturn, with the current price action suggesting a solid potential for a bullish resurgence.
  • Entry Prices and Support Levels: Entry points are set at S$6.39, S$6.28, and S$6.10. The support level at S$6.39, which has transformed from resistance to support, is critical, with an additional support level at S$5.77.
  • Stop Loss and Resistance Levels: A stop loss is advised at S$5.96 to protect against downside risk. Resistance may be faced at S$6.90 and S$7.44.
  • Target Prices: The targets are placed at S$6.90, S$7.12, S$7.35, and S$7.54, indicating a positive outlook.
  • Company Overview: Singapore Airlines provides a spectrum of aviation-related services, including air transportation across continents, engineering, pilot training, and air charter services, as well as tour wholesaling. It is renowned for its global reach, covering regions such as Asia, Europe, the Americas, South West Pacific, and Africa.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock momentum

Our goal is straightforward: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.

Please refer to the attached report for the disclaimer.