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

  • It was business as usual on a busy weekday morning at OCBC Bank’s Paya Lebar Square branch on Aug 2.
  • But when a male customer in his 40s, came in to withdraw over $36,000 “in the largest possible denomination” in cash, it set off alarm bells for bank teller Victor Lo, 29.
  • Together with two colleagues, they managed to prevent the man from becoming a money mule in a police impersonation scam. For their efforts, the trio – including customer service manager Catherine Kueh, 54, and bank service officer Gina Chung, 54 – were awarded certificates of appreciation from the Singapore Police Force on Tuesday (Aug 29).
  • At the ceremony, Chiang Kiong Environmental and Keppel Seghers Engineering Singapore were also presented certificates for assisting investigations into police impersonation scams.

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.

The projected upper bound is: 11.50.

The projected lower bound is: 10.86.

The projected closing price is: 11.18.

OCBC closed up 0.100 at 11.170. Volume was 14% above average (neutral) and Bollinger Bands were 28% narrower than normal.

Open        High         Low        Close       Volume
11.220      11.260      11.170     11.170      6,490,700

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period         50-period     200-period
Close:                       11.04                 11.03             9.99
Volatility:                 13                     19                   15
Volume:                    4,183,700      5,272,149      5,669,239

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
OCBC is currently 11.8% above its 200-period moving average and is in an downward trend. Volatility is high 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 bearish on OCBC.SI and have had this outlook for the last 9 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 66.1971. This is not an overbought or oversold reading. The last signal was a buy 3 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 53.72. 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 23 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 78. This is not a topping or bottoming area. The last signal was a buy 3 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 sell 18 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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