Tuesday, February 13, 2018

OCBC: Rebounding back from key support, More upside? Price 12.55

Over the past week when there was a sell down in Global markets, we have seen OCBC traded lower back to the 11.90 - 12.00 support level

This has been holding since Nov last year and seems like we are again seeing buyers come back to defend this level…

It may be a good support base for any rebound to take place which is what was spotted recently..

Some rebound targets were drawn over the past few days with a potential recovery back to 12.60….

Today, we have indeed seen a rebound for OCBC back to the 12.60 resistance level as drawn…

Seeing some profit taking near here for now which is normal….

Any firm price action on market strength above 12.60 can see the recovery back to 13.00 then 13.30 where targets may be revised higher….

We actually had a BULLISH EXIT on the counter on the SYSTEM ON 26 Jan 2018 about 2 weeks….

Before the sell down begun….

Will look to see if there are any new signals for more direction….

No comments:

Post a Comment