Broker Name: CGS International Securities Singapore Pte. Ltd.
Date: October 21, 2024
Overview
Oversea-Chinese Banking Corporation Limited (OCBC) offers a comprehensive range of financial services. The Company’s services include deposit-taking, corporate, enterprise and personal lending, international trade financing, investment banking, private banking, treasury, stockbroking, insurance, credit cards, cash management, asset management, and other financial and related services.
Technical Analysis
- Last Price: S$15.40
- Corrective Rebound: OCBC is currently experiencing a corrective rebound following a recent price correction.
Entry and Target Prices
- Entry Prices:
- Support Levels:
- Support 1: S$14.89
- Support 2: S$14.03
- Stop Loss: S$13.36
- Target Prices:
- Target Price 1: S$16.16
- Target Price 2: S$16.68
- Target Price 3: S$17.20
- Target Price 4: S$18.10
Technical Indicators
- Trend Analysis: OCBC remains firmly intact within the uptrend line.
- Ichimoku Indicators: OCBC trends above all Ichimoku indicators, indicating strong momentum.
- MACD Analysis: The MACD histogram is positive, and the MACD/signal line remains firmly above the zero line.
- Rate of Change (ROC): The 23-period ROC is seen rising above the zero line, suggesting increasing bullish momentum.
- Volume: Volume remains in healthy expansion, indicating robust trading activity.
Summary
OCBC’s technical analysis highlights a strong uptrend, with significant support levels and promising target prices, making it a compelling option for investors. The current corrective rebound and positive technical indicators further enhance its investment appeal.
