Monday, January 11, 2016

OCBC Bank: Support at 8.50 did not hold, more weakness below still?

New recent low today at 8.26…. may head gradually towards the 8.00 as per call issued with cap at 8.50 for now….

Sent: Monday, January 04, 2016 11:53 AM
Subject: *********** OCBC Bank: Breakdown of 8.80 support can see downside back to key support.... price 8.65
OCBC has rebounded slightly back to above 8.80 last month, and was holding well above 8.80 for a week. But today we have a move below 8.80 support again where we can expect a move towards the 8.50 support. Those looking for a quick technical rebound can scale trades near 8.50 for a potential technical rebound but be careful of any breakdown below this support which can see a new low towards 8.00.. Longer term trend weak with it still below the longer term MA. Resistance at 8.80 – 8.90 for now and still weak as long as these it stays below this levels....

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