OCBC - Technical Analysis

 OCBC Bank stock is digesting the recent mid-term upthrust in choppy sideways action. The short-term technicals are neutral. The overall bias remains to the upside. Immediate trend resumption would be on the cards on a decisive break above horizontal resistance at 9.98 and the short-term downtrend line near 10.00. Next upside targets would be 10.12 and then the peak at 10.30. Possible mid-term target is located at 10.80/10.90.Violation of next support at 9.70 would likely trigger a move down towards solid mid-term support 9.36/9.42.

 

/DB warrants/

/exercise due diligence before trading .../

 

thanks.

bought and sold this morning after reading your info.

bought @ 9.72 and sold @ 9.78

waiting for 9.3 to come.

Hi epliew, this is for you.  i am quite pessimistic abt this counter in near term, it is range bound and finding its support, in my view, at the lower trendline, where the arrow is......  good luck and happy trading.

wow.. 9.70....

normally rebound when it hit 9.72....

can show your charts, thanks!

OCBC - Technical Analysis

 

OCBC Bank is currently hovering around the flat 20-day moving average. The stock shaped an inside day in yesterday’s trading. A distinct lower wick in the candle chart is indicating demand below current levels. The bulls need to push price above 10.12 for confirmation of the valid intermediate-term uptrend. Possible upside targets are seen at 10.30 and then 10.80/10.90. A decisive break below Tuesday’s low at 9.70 would shift the near-term technical bias from bullish to neutral. Extended sideways action would be likely then. Only a sustained breach of solid support at 9.36/9.42 and then 9.22 would question the mid-term uptrend.

 

/db warrants

/i read i post - this is not an invitation to trade. 

 

OCBC - Technical Analysis

 

OCBC Bank faced resistance at 10.12 last week on Thursday. The stock pulled back towards the rising 20-day moving average and is currently trying to stabilize around this support at 9.82. A break above 10.12 would confirm the intact mid-term uptrend. Next upside target is seen at this year’s peak of 10.30. A break above this peak would point to a continued rally towards around 10.80/10.90. A close below yesterday’s low at 9.70 would shift the short-term bias from bullish to neutral. Extended sideways action or a test of 9.42 or 9.23 would not surprise then. The longer-term outlook remains bullish unless support around 9.00 is violated.

/db warrants/-i read i post

 

I think this is the article.

Yes. totally agreed with CS