OCBC - Only local bank in "buy channel" but with a clear "possible" bearish pattern formation
- Disclaimer ==> It is NOT bearish until it is bearish (Yes, there is HnS, but until it breaks neckline of 12/12.18, it is NOT bearish yet.
- In a recent consistent controlled buy channel
- Approaching an interesting level
- Bullish - Support at 12/12.18, and we could see the path back upwards with 12.56 resistance
- Bearish - Break below 12/12.18, could see 11+ come into play
My Watch/Plays
- Might consider small nibble in between 12 and 12.18
- Will look at whether 12 holds and if not, then will be interested in 11.74 down to 11.14
Note any severe bearishness see good support at 10.38 once 11.14 gives way.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Well another one in a downtrend…sad
SG has too many bank stocks I would only buy DBS