Where Is KepCorp's Bottom?

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Collated using Shareinvestor
Extrapolating the "share price to 52 weeks low" metric in the table above(in ascending order) shows that Keppel Corp is currently at the 6th place. 1.73% below its 52 weeks low. With its sharp decline this past few months, you may be interested in finding its bottom, me too. Besides its fundamental Net Asset Value at 5.5365x in which we can use to judge, any ratios that are dependent on its earnings might not be accurate, as no one knows how the drastic dip in oil prices can affect its core profit next quarter. We can however take a look at its monthly chart:

From the chart, you can see two similar occasions of dips and rebounds. The lines I drew are the bases of past lows extended to act as supports for the current price action. Notice the RSI hits a valley whenever the price reaches the base with increasing volume. In my opinion, $7.70 is a reliable support(8 times tested). If it fails to hold, next support will be at $7. $7 is another well tested support(7x). If it fails and is broken convincingly with volume, we could see a drastic dip towards 2008 lows at 3.35. I personally don't see the latter scenario as likely, but only Mr Market can know for sure.

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