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
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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