OCBC – [ Two Targets Hit In A Day, Further Upside? ]

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11th June, 2019, 10:04 PM

OCBC – [ Two Targets Hit In A Day, Further Upside? ]algo investing.com/wp-content/uploads/2019/06/ocbc.png” alt=”OCBC 11th June 2019″ width=”959″ height=”549″ srcset=”http://algo investing.com/wp-content/uploads/2019/06/ocbc.png 959w, http://algo investing.com/wp-content/uploads/2019/06/ocbc-300×172.png 300w, http://algo investing.com/wp-content/uploads/2019/06/ocbc-768×440.png 768w, http://algo investing.com/wp-content/uploads/2019/06/ocbc-600×343.png 600w, http://algo investing.com/wp-content/uploads/2019/06/ocbc-709×406.png 709w” sizes=”(max-width: 959px) 100vw, 959px”>

algo investing.com/wp-content/uploads/2019/06/OCBC-msg.png” alt=”” width=”233″ height=”359″ srcset=”http://algo investing.com/wp-content/uploads/2019/06/OCBC-msg.png 233w, http://algo investing.com/wp-content/uploads/2019/06/OCBC-msg-195×300.png 195w” sizes=”(max-width: 233px) 100vw, 233px”>algo investing.com/wp-content/uploads/2019/06/OCBC-msg2.png” alt=”” width=”206″ height=”262″>

Chart Source : 11th june 2019

OCBC formed a nice base last week and rebound off its $10.50 support and continued to rally above its 5ema which gave us some confidence in looking at it.

It is a useful indicator for us and once it managed to break above that we alerted our EXCLUSIVE CLIENTS so that they could Prepare, Plan and Proceed.

We’re glad that OCBC managed to hit our two targets this morning and having some resistance at $10.82 now. A break above $10.82 might see it move higher to $10.90 where it might face some strong resistance. UOB is currently at the 20ema. So lets see if it can break which might be an indicator if OCBC can break that too.

It is also good to take a look at the STI component stocks which are your blue chips during rebound as these stocks are usually what fund managers might be looking at.

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