CFD Trading – Sell OCBC Bank (O39.SGX) @ $11.60. Stop @ $11.90 and Target @ $11.00

OCBC Bank Stock Code O39.SGX

Outlook

Price broke and closed below the cloud in the previous trading session, changing the chart outlook to bearish. Conversion and Base lines had a bearish crossover, hinting at a bearish price trend ahead. Lagging Span is below price of 26 days ago and but is above the cloud. MACD has a bearish crossover, hinting at a bearish price trend. If price stays below the cloud, we are likely to see a decline to the previous low at $10.99 in the next 2-3 weeks.

Strategy

$11.60                Sell

$11.00                Price Target

$11.90                Risk Management Stop

3 weeks Trade Duration

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