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)
No comments:
Post a Comment