CFD Trading – Buy OCBC BANK (O39.SGX) @ $12.53. Stop @ $12.25 and Target @ $13.25.

OCBC BANK Stock Code O39.SGX

Outlook

Price rebounded after being supported by the upper edge of the cloud support. There is a bullish conversion and base lines crossover that hints at potential upside ahead. MACD is still bullish and remains in a bullish crossover. These could increase chances of the stock price rebounding to move higher.

Strategy

$12.53          Buy

$13.25         Price Target

$12.25          Risk Management Stop

3 weeks      Trade Duration

CFD Trading – Sell OCBC BANK (O39.SGX) @ $12.09. Stop @ $12.30 and Target @ $11.50.

OCBC BANK   Stock Code O39.SGX

Outlook

Price is moving below its middle Bollinger band, aka the 20MA, hinting at the potential downtrend ahead. It was capped by its support-turned-resistance level with a doji candlestick pattern. The MACD is bearish and is moving lower after having a bearish crossover. These could increase chances of the stock price continuing to move lower.

Strategy

$12.09               Sell

$11.50                Price Target

$12.30               Risk Management Stop

3 weeks             Trade Duration

CFD Trading – Buy OCBC Bank (O39.SGX) @ $12.50. Stop @ $12.28 and Target @ $12.90.

OCBC Bank Stock Code 039.SGX

Outlook

Price, after reaching a high at 12.90 on 20 April 2023, went into a correction. The correction was supported by the Base line and the upper edge of the cloud, keeping the bullish price trend intact. Conversion line and Base line remain in a bullish crossover and is hinting at a bullish price trend.  Lagging Span is above price of 26 days ago but is below the cloud at the moment.  MACD is above the zero line and is hinting at a bullish price trend. If price is able to stay above the cloud, it could be heading towards the previous resistance high at $12.90 in the next 2-3 weeks.

Strategy                  

$12.50                Buy

$12.90                Price Target

$12.28                Risk Management Stop

3 weeks              Trade Duration

CFD Trading – Buy OCBC (O39.SGX) @ $12.06. Stop @ $11.80 and Target @ $12.39.

OCBC Stock Code O39.SGX

Outlook

Price broke above the cloud and in the last trading session, which was a black candlestick, price managed to close above the cloud, keeping the uptrend intact. Conversion and Base lines had a bullish crossover earlier, hinting at a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD had a bullish crossover and is hinting at a bullish price trend. We think price is likely to move higher to the previous high at $12.39 in the next 2-3 weeks.

Strategy                  

$12.06                Buy

$12.39                Price Target

$11.80                Risk Management Stop

3 weeks              Trade Duration

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