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 Bank and StarHub announced the formation of Singapore’s first bank-telco strategic partnership to drive Singapore’s collaborative economy.
  • Also known as the ‘We Economy’, businesses globally are moving beyond conventional industry silos into an interconnected ecosystem to shape better business outcomes and customer experiences.
  • The previously clear lines between different businesses and industries will eventually converge to meet customer needs in a unified manner – making life simpler.
  • This partnership between OCBC Bank and StarHub is the first step in a multi-year plan towards bringing together essential businesses across industries.

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, 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 ranging.

By the way, prices are vulnerable to a correction towards 11.04.

The projected upper bound is: 11.78.

The projected lower bound is: 11.23.

The projected closing price is: 11.51.

OCBC closed up 0.020 at 11.500. Volume was 46% below average (neutral) and Bollinger Bands were 9% wider than normal.

Open        High        Low          Close       Volume
11.490      11.580     11.460      11.500     2,560,600

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

Moving Averages: 10-period       50-period     200-period
Close:                      11.38                11.15              10.33
Volatility:               9                       16                   16
Volume:                  3,754,270       4,215,193      5,276,487

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 11.3% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into OCBC.SI (mildly bullish). Our trend forecasting oscillators are currently bullish on OCBC.SI and have had this outlook for the last 16 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 81.9276. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 13 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 66.26. 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 55 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 122.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 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 21 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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