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Friday, March 25, 2016

OCBC

OCBC - 25th Mar 2016

OCBC after hitting the high of $9.30 on 22nd Mar 2016 it had experienced heavy selling down and closed lower at $8.91 on 24th Mar 2016.This is generally quite negative.

Last Fri had a drastic Gap-down at opening price of $9.07 and closed weaker at $8.91 + couple with High volume this is generally viewed as quite bearish.


Both MACD & RSI are showing sign of a negative divergence which may be a tell tale sign that the share price may continue to trend lower.

After this selling down we may be expecting to see a bounce off from the current price of $8.91.

If the price is not able to stay above $8.91 then chances is that it may eventually failed and continue to trend lower towards $8.60 then $8.30 with extension to $8.00.
(trade base on your own decision)

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