Hold for ocbc banks, low risks
Strong Financial Performance, OCBC maintained strong financial performance, with solid profitability, healthy balance sheets, and robust capital adequacy ratios. This financial strength provides a foundation for sustainable growth and resilience during economic downturns.
Potential bullish pattern - OCBC
Entry and Exit as shown in chart.
Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Give a thumbs up if u like the analysis :)
Such is the rewards if one is patient enough and daring enough to get in at the almost right time!
The top 3 banks are giving good investment returns to their shareholders thus far and with the rate hike news, it should not be a major issue for these banks to reach their previous peak at all. In this case, we are shy of 2 dollars to reach the pinnacle. Will it...
Sign of Strength in the chart:
1. Gap up with Reaccumulation
2. Bullish signal in the chart
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
This is an analysis for a client
Technical indicators still showing room for further bullish upside.
Becareful though as price is trading within a broader range.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
This is an analysis for a client.
Price just did a triangle upside breakout with indicators showing room for further bullish upside.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
Price is approaching our first resistance in line with our horizontal swing high resistance, 78.6% fibonacci retracement and 127.2% fibonacci extension where we could see a reversal below this level to our first support target.
OCBC is seeing reversal of trend based on trendline,more drop! Entry at possible pullback at 76% fib retracement and target is in line with -27% fib retracement and horizonal swing low.
Price broke out of key descending trend line, a test of our buy entry could present an opportunity to go long and play to our take profit target. Overall direction is bullish for me now as long as prices holds above the trend line and a break above the immediate ressistance at 8.69 could see prices push higher.
![O39: OCBC [1-3 week view]](https://s3.tradingview.com/v/Vd9uVjDx_mid.png "OCBC [1-3 week view]")
![O39: OCBC [1-3 week view]](https://s3.tradingview.com/l/lE9tlZQT_mid.png "OCBC [1-3 week view]")
