Saturday, December 26, 2015


OCBC Bank - 27th Dec 2015

OCBC has been able to bounced off from the low of $8.50 on 14 Dec 2015 and had gently rebounced higher to close $8.85 on 24 Dec 2015.

From TA point of view it is a trend reversal as reflected from the chart with the price now is staying above both 14 SMA & 25 SMA line. This is generally positive.
Also both MACD & RSI are showing signed of a positive divergence that is also positive to drive the share price higher.
Short term can expect to see some pauses here and there. Think it may head higher to test $9.00 then $9.24.

If price dropped below $8.64 then perhaps the uptrend mode may not follow-through.
(trade/invest base on your own decision)

No comments:

Post a Comment