Stock with Momentum: Oversea-Chinese Banking Corp

January 22, 2024

OCBC bank shares

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we focus on Oversea-Chinese Banking Corp Ltd (SGX: O39), which price action shows that the stock is likely to trend higher.

Here is a look at some of the key highlights of the technical report.

  • Current Market Position: OCBC is currently considered a ‘Technical Buy’ with a last price of S$12.91, indicating an uptrend in its stock.
  • Entry Prices and Support Levels: The suggested entry prices are S$12.91, S$12.80, and S$12.60. The first support level is at S$12.68, followed by a second support level at S$12.18.
  • Stop Loss and Resistance Levels: A stop loss is advised at S$12.45. Resistance levels are identified at S$13.05 and S$13.39.
  • Target Prices: The target prices are set at S$13.30, S$13.70, S$14.00, and S$14.20.
  • Company Overview: OCBC offers a comprehensive range of financial services including 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 related services.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock momentum

Our goal is simple: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re a seasoned investor or just starting out, our analysis is designed to help you navigate the market with confidence.

Disclaimer in the report attached

 

Disclaimer: ProsperUs Head of Content & Investment Lead Billy Toh doesn’t own shares of any companies mentioned.

This material is categorised as non-independent for the purposes of CGS-CIMB Securities (Singapore) Pte. Ltd. and its affiliates (collectively “CGS-CIMB”) and therefore does not provide an impartial or objective assessment of the subject matter and does not constitute independent research. Consequently, this material has not been prepared in accordance with legal requirements designed to promote the independence of research. Therefore, this material is considered a marketing communication. This material is general in nature and has been prepared for information purposes only. It is intended for circulation amongst CGS-CIMB’s clients generally and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this material. The information and opinions in this material are not and should not be construed or considered as an offer, recommendation or solicitation to buy or sell the subject securities, derivative contracts, related investments or other financial instruments or any derivative instrument, or any rights pertaining thereto. CGS-CIMB have not, and will not accept any obligation to check or ensure the adequacy, accuracy, completeness, reliability or fairness of any information and opinion contained in this material. CGS-CIMB shall not be liable in any manner whatsoever for any consequences (including but not limited to any direct, indirect or consequential losses, loss of profits and damages) of any reliance thereon or usage thereof.

Billy Toh

Billy is deeply committed to making investment accessible and understandable to everyone, a principle that drives his engagement with the capital markets and his long-term investment strategies. He is currently the Head of Content & Investment Lead for Prosperus and a SGX Academy Trainer. His extensive experience spans roles as an economist at RHB Investment Bank, focusing on the Thailand and Philippines markets, and as a financial journalist at The Edge Malaysia. Additionally, his background includes valuable time spent in an asset management firm. Outside of finance, Billy enjoys meaningful conversations over coffee, keeps fit as a fitness enthusiast, and has a keen interest in technology.

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