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… Continue reading Singapore banks in bearish territories.
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… Continue reading OCBC Bank (O39.SI) : Accelerated fall. Bearish
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… Continue reading Ichimoku Chart Review : OCBC and Wilmar