OCBC current price of $9.42 is trading near the historical peak price of $9.70/$10.00.
Immediate resistance is at $9.48 .
With US uncertainty and may likely affect the world economy. Nobody can foresee what is going to happen next. Plus the O & G sector is still not so rosy especially the latest news of another company might be facing the difficulties to pay the business financing loan, bank counters may be the hardest hit.
I think Cimb has a neurtal call for Ocbc at TP $8.18.
Short term wise, I think it may likely succumb to selling pressure as US may likely to increase 3 rate rises in 2017 and another 4 rate rises in 2018. Look for a pull back from current price to $9.20 then $9.00 with further downwards to $8.80.
( trade base on your own decision)
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