CFD Trading – Buy OCBC Bank (O39.SGX) @ $11.95. Stop @ $11.82 and Target @ $12.28.

OCBC Bank Stock Code O39.SGX


Price broke above the cloud on 13 October and reached a high of $12.04 on 19 October. Since the high, price has been consolidating in the form of a Pennant chart pattern. A breakout of the pattern is likely to send price higher to $12.28. Conversion and Base lines had a bullish crossover, hinting of a bullish price trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD is bullish with both its lines above the zero line. We are expecting a price rally to follow to the next resistance level at $12.28 in the next 2-3 weeks.


$11.95                Buy

$12.28                Price Target

$11.82                Risk Management Stop

3 weeks Trade Duration

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