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STI

Singapore banks in bearish territories.

All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts.

If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead.

I expect tough times ahead in 2012.

 

 

 

UOB with support at $16.85 and resistance at $17.21

 

 

 

OCBC with support at $8.03 and resistance at $8.28

 

 

 

DBS with support at $11.77 and resistance at $12.21

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Uncategorized

OCBC Bank (O39.SI) : Accelerated fall. Bearish

 

OCBC has been falling.

On the Ichimoku Chart, the stock has been bearish since August. with 4 gap down over the last 1 month.

In fact, the last 3 trading days, has seen it gap down again; suggesting that the fall is now being accelerated.

I think this will be a great setup for a ‘falling knife’. What’s the catalyst to go ‘Long’ now?

Categories
STI

Ichimoku Chart Review : OCBC and Wilmar

Today, I am just going to stray away from the US stocks and briefly discuss about 2 stocks on the Singapore Exchange.

1. Wilmar, in the commodity sector. A darling that has went 3 folds since the lows in 2009. It was also included in the STI Index last year.

2. OCBC. One of the 3 major banks in Singapore and I believe, is part of the STI Index as well.