Oversea-Chinese Banking Corp. Limited (SGX:O39) HEFFX Highlights

Oversea-Chinese Banking Corp. Limited (SGX:O39) HEFFX Highlights

Oversea-Chinese Banking Corp. Limited (SGX:O39) HEFFX Highlights

  • OCBC acquires National Australian Bank’s private wealth business in Hong Kong
  • The move seeks to boost the bank’s mortgage and deposit books.
  • OCBC Wing Hang Bank Limited, a wholly-owned subsidiary of OCBC, has completed the acquisition of National Australia Bank’s (NAB) Private Wealth business in Hong Kong on November 24, according to a filing at the SGX.
  • The amount was not specified in the announcement.
  • OCBC entered into an agreement to acquire NAB’s business in Singapore and Hong Kong last May.

Oversea-Chinese Banking Corporation Limited (the Bank) is a Singapore-based financial services company. The Bank is engaged in the business of banking, life assurance, general insurance, asset management, wealth management, investment holding, futures and stockbroking. Its segments are Global Consumer/Private Banking, Global Corporate/Investment Banking, Global Treasury and Markets, Insurance and OCBC Wing Hang. Global Consumer/Private Banking provides products and services to individual customers. Global Corporate/Investment Banking serves institutional customers ranging from large corporates and the public sector to small and medium enterprises. Global Treasury and Markets engages in foreign exchange activities, money market operations, fixed income and derivatives trading, and offers structured treasury products and financial solutions. Insurance provides both life and general insurance products. OCBC Wing Hang offers a range of commercial banking and related financial services.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 12.37.

The projected lower bound is: 11.85.

The projected closing price is: 12.11.

OCBC closed up 0.040 at 12.090. Volume was 24% below average (neutral) and Bollinger Bands were 11% wider than normal.

Open         High           Low           Close        Volume
12.020       12.100       12.010       12.090      3,558,600

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period     50-period         200-period
Close:                      11.81               11.53                  10.66
Volatility:               18                    14                       16
Volume:                 4,180,740       4,394,623        5,120,799

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
OCBC is currently 13.4% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of OCBC.SI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on OCBC.SI and have had this outlook for the last 3 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 85.9259. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 66.33. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 17 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 123.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 5 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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