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:
  • S$15.40
  • S$14.54
  • S$14.10
• 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

1. Trend Analysis: OCBC remains firmly intact within the uptrend line.
2. Ichimoku Indicators: OCBC trends above all Ichimoku indicators, indicating strong momentum.
3. MACD Analysis: The MACD histogram is positive, and the MACD/signal line remains firmly above the zero line.
4. Rate of Change (ROC): The 23-period ROC is seen rising above the zero line, suggesting increasing bullish momentum.
5. 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.