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Monday, December 9, 2013

OCBC

 Update for OCBC 12 Apr 2014- OCBC had indeed broken out of $9.50 on 26 Mar and closed well at $9.56 on the same day. This is rather bullish. It has since continued to rise up to touch $9.77 on 9 April. Current price of $9.62 as of last Fri 11 April seems to be holding up well. Short term it may continue to rise higher towards $9.77. Breaking out of $9.77 with good volume that may help to drive the share prices higher towards $10.00 .(trade base on your own decision)

Update for OCBC 23 Mar 2014- OCBC has indeed went down to touch $9.20 on 20th Mar and had since managed to bounce off higher to close at $9.33 on 21st Mar 2014. Volume is generally picking up which is rather positive. All 3 indicators are showing sign of turning upwards which is quite supportive of helping the share prices of heading higher. Breaking out of $9.50 with good volume that may drive the share prices higher towards $9.70 then $9.77.(trade base on your own decision)

Update for OCBC 18 Mar 2014- OCBC has indeed went down to touch $9.30 on 17th Mar 2014 but was able to close higher at $9.35. It is still rather bearish. It will need to move up and cross over $9.55 in order to reverse this downtrend and head higher. If not,Breaking down of $9.30 may see it goes further down towards $9.05 soon.(trade base on your own decision)

Update for OCBC 1 Mar 2014- OCBC seems rather weak after hitting the high of $9.79 on 24 Feb 2014 and had been drifting lower to close at $9.56 on 28 Feb .
Both Stochastic & RSI are showing sign of turning downwards which is rather negative. Breaking down of $9.49 may see it goes further down to $9.30 soon.
(trade base on your own decision) 

Update for OCBC 22 Feb 2014- OCBC has indeed managed to cross over $9.46 and move up towards $9.65 on 21st Feb 2014. This is rather positive. All 3 indicators are turning upwards which may help to further support the share prices form trending higher towards $9.80. Breaking out of $9.80 with good volume that may help to drive the share prices higher towards $10.00.(trade base on your own decision) FREE PAID SURVEY

Update for OCBC 7 Feb 2014- OCBC seems to have bounced off from the low of $9.05 and close up well at $9.26 yesterday (6 Feb 2014). All 3 indicators are showing sign of turning upwards which is rather positive. Short term more likely to move up to $9.46. Breaking out of $9.46 with good volume that may drive the share prices higher towards $9.70.
(trade base on your own decision)
Update for OCBC 23 Jan 2014 - OCBC is very bearish from TA point of view. It had continued to trend lower after hitting the high of $10.27 on 2 Jan 2014 and closed at $9.57 on 23 Jan. After broken down the major support at $9.80 it has drifted lower to $9.57 which is rather negative. Short term it may continue to go down to $9.40. Breakind down of $9.40 with high volume that may see it goes further down to $9.00.
(trade base on your own decision)

Latest Update for OCBC 27 Dec 13 - Indeed it has broken out of $10.12 price level and it is now reversing the down trend and it is holding up well at $10.18 .All 3 indicators such as Macd, Rsi and Stochastic are turning upwards which is positive. Look to see if it is able to breakout $10.22 with good volume in order for it to move up to $10.35 then $10.50.
(trade base on your own decision)

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Update for OCBC 20 Dec 13 - OCBC seems to be holding up well at $9.80 and it is slowly moving upwards. If it is able to breakout $10.12 with good volume then that may be positive for the price to go higher.

Oversea-Chinese Banking Corp (OCBC) from a chartwise point of view looks very bearish.
The stock price recently broke below a "rising wedge" pattern + most indicators such as RSI, MACD are still on a downtrend mode. Stochastic is showing sign of oversold. If $9.80 unable to hold, expect to see it goes further down to $9.50 in time to come.

(Trade base on your own decision)
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