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OCBC BANK

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O39 trade ideas

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
SGX:O39
by lau_boy96
1
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.
SGX:O39Long
by Juliac