Broker Name: CGS International
Date of Report: January 26, 2026
Excerpt from CGS International report.
Report Summary:
- The MSCI Singapore Free Index has rebounded strongly and broken out of resistance, led by a parabolic rally in Singapore’s three major banks: DBS, UOB, and OCBC.
- DBS, UOB, and OCBC are all on strong technical uptrends, with all three banks recommended as long-term technical buys, with suggestions to accumulate on short-term pullbacks due to overbought conditions but mild expected corrections.
- Key technical indicators (MACD, Ichimoku, Stochastic Oscillator, Directional Movement Index, and rising volume) all support the ongoing bullish trend for these banks.
- Target prices for DBS, UOB, and OCBC reflect expectations for further upside, with gains of more than 10% already realized for DBS and UOB, and over 28% for OCBC since prior recommendations.
- General sentiment remains bullish for the Singapore market, especially the banking sector, but investors are cautioned to buy on pullbacks due to the sharpness of the recent run-up.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com
