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Friday, June 21, 2019

Bank counter UOB,dbs & ocbc

I think is always good to secure the profit!
Market has been rising due to news like trade saga and future interest rate cut .


US indexes has been approaching the dangerous zone. I think is good to be extra cautious!
We have a 10 good years of bull market and is about time for the indexes to be corrected .

The 3 bank counters has managed to rebound from the oversold territory and I think is always a good to lock in profit.


I think not much room to go higher unless trigger by some positive news.

UOb latest chart
DBs latest chart
Ocbc latest chart


  • 19th June 2019

Chart wise, the three bank counter are showing a reversal patterns as all 3 counters are having quite similar chart patterns.


UOb chart patterns standout amongst the other two counters and close slightly near the overhead resistance at 26.15.
TA wise,looks Bullish !
It is usually quite normal for price not to be able to Pierce through the resistance . With this bullish momentum, I think it may continue to rise further!


Dbs has a very nice Gap up yesterday and close slightly higher at 25.43. It has managed to take out the recent high of 25.40 , looks positive!
Short term wise, I think it may rise higher to test 26.00 then 26.50 - 26.95.
Ocbc also experience a nice Gap up yesterday and close well at 11.18, looks positive!
If it is able to cross over 11.20 smoothly plus good volume then high chance it may rise higher to retest 11.50 again!

Not a call to buy or sell.

Pls dyodd.


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