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Wednesday, July 20, 2016

OCBC Bank

OCBC Bank - 20th July 2016

OCBC Bank after hitting the low of 8.22 on 27th June 2016 it had managed to stage a strong recovery to close higher at 9.00. This is rather bullish .



The recent breakout at 8.94 which is also the major overhead resistance is a double confirmation of the bullish signal for the share price to continue to head further North.

With both Macd & Rsi are still rising this may provide further indication that the share price may continue to trend higher.

I think short term wise it may likely move up to re-visit 9.09. Breaking out of 9.09 with good volume that may propel to drive the share price higher towards 9.40 & above.

(trade base on your own decision)

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