O39 trade ideas
OCBC approaching support, potential bounce Price is approaching support where we could see a bounce above this level. That said, we do caution the limited upside in prices a price is still holding below our descending trend line.
OCBC facing bearish pressure, wait for pullback to go short Price is facing bearish pressure on the larger time frame. On the H4, a pullback to test our sell entry could present an opportunity to go short.
Potential uptrend for both stocks.Firstly, form the Exponential Moving Average (15 , 30) for both stocks are on uptrend.
Besides that, From the MACD (12 , 26), both has upper cross, showing potential uptrend.
Lastly, from RSI level, both are around 60, shows both stocks are favorable to investor.
keep it and BUY MORE if we cross the blue line OCBC BANK : will continue to rise in the coming days, I advise you to double your investment after crossing the blue line
OCBC facing bearish pressure Price is facing bearish pressure from our resistance in line with our 78.6% extension and 23.6% retracement where we could see a reversal here.
OCBC under bearish pressure potential for further drop!Price is testing our resistance where we could see a reversal below this level. Our first resistance is in line with our 23.6% retracement, 78.6% extension and descending trend line as well.
OCBC testing resistance, potential dropLooking at a short on OCBC Bank(O39.SI) as well here, price is facing bearish bias from our pivot level and 20 period EMA, where we could be seeing a reversal to our first support level.
OCBC further price decline? www.tradingview.com
Looking for alternative interpretations!
Money Flow Index: 33.24, small room for further decline. Might also be biased towards 27th May distribution volume ex dividend. (Uncertain)
CMF: - 0.29 as of 29th May. Major sell off unlikely, limited room for major demand declines (Uncertain)
Moving Averages: Likely for 14 day SMA to cross under 50 day SMA (Bearish)
Fib Retracement: Resistance at 9.07 (38.2%) remains untested, period selected from 20th Feb to 23rd March for Fib Levels (Bearish)
MACD: MACD line crossed under Singal Line, unlikely to break above the 0 line into positive territory soon (Bearish)
Side note, Bollinger Bands look to be tightening, may have stronger price action soon, hopefully to lower price levels!
End May Events:
- Rising U.S-China Tensions over HK security legislation
- Protests emerging across U.S, George Floyd incident
TA - OCBC - Bullish?- bounce off ~ 10.5 (current low is not lower than oct/nov 2018)
- wave 1 (bullish trend) or wave 2 (bearish trend)
- chalkin money flow +ve
OCBC - Rising wedge!Consider it a Rising wedge or a flag/pennant (on longer timeframe). Both in my view are bearish formations in current context. Look out for the breakdown of the wedge. Target should be recent low atleast.
However, I also see a cup and handle formation, therefore, bets off if the recent high is taken out and goes above the wedge formation.
Disclaimer: Not a recommendation to buy or sell.
OCBC Bank - time to nibble?The banks have been selling off due to a lower interest rate environment which now gives rise to the opportunity for some short or swing trade at smaller risk levels.
OCBC Bank hit into a long term trendline support as well as a med term horizontal support this morning and is now bouncing off these supports. I will be going long with a stop just below this morning's low of 9.35 and is looking to take partial profit at the gap close 10.20 or swing for higher with trailing stops.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Trade safe! Thank you.
OCBC - SL @ 2ATRLaggard Stock among the 3 local Singapore Banks: DBS, OCBC and UOB.
Cleared the 1st hurdle (above moving average, cloud and downtrend resistance line). '
Will it be able to clear 2nd hurdle (maintain above the 1st hurdle, clear the 11.19 level and the next downtrend resistance line)?
OCBC [1-3 weeks view]SHORT OCBC
Entry: 10.77
TP1: 9.75
TP2: 9.08
SL: 11.15
Market holding below natural moving average and descending trendline resistance.
MACD in bearish territory
Trade safe guys! Feel free to reach out to me if anything!
Cheers
**Trading is a high risk activity. Follow my personal calls at your own discretion. Always do your own due diligence and analysis. I do not take any responsibility for your losses**
Head and Shoulder on Singapore OCBC ??Reason to Buy
1) Trendline broken
2) Head and Shoulder
Stay tuned!
Trend Line Broken, Expecting Downward BiasO39 trend line which began in Nov 2018 has broken today. Thus, technically, the upward trend has ended. We are expecting bearish bias on the bank. 1st price target at S$12.00
