Oversea-Chinese Banking Corp. Limited (SGX:O39) Wants Slice Of BaR Pie

Oversea-Chinese Banking Corp. Limited (SGX:O39) Wants Slice Of BaR Pie

Oversea-Chinese Banking Corp. Limited (SGX:O39) Wants Slice Of BaR (Belt and Road)* Pie

  • Singapore’s second-largest bank wants a slice of China’s flagship infrastructure projects
  • Chief executive Samuel Tsien shrugs off concerns about the role foreign lenders will be able to play in belt and road plan.
  • Singapore’s second largest lender, Oversea Chinese Banking Corporation, aims to benefit from China’s flagship “Belt and Road Initiative” and Greater Bay Area projects, according to chief executive Samuel Tsien.
  • “At the present time, our objective is to permeate as much as possible into those projects [the Belt and Road and the Greater Bay Area],” he said.
  • “We hope that an additional four or five per cent of our assets will come from the China flow business in the future.”

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 trending.

The projected upper bound is: 11.51.

The projected lower bound is: 10.92.

The projected closing price is: 11.21.

OCBC closed down -0.120 at 11.200. Volume was 5% above average (neutral) and Bollinger Bands were 11% narrower than normal.

Open        High        Low           Close       Volume
11.210      11.250      11.170       11.200      5,946,200

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

Moving Averages: 10-period       50-period     200-period
Close:                       11.29               10.90             9.81
Volatility:                15                     17                   15
Volume:                   6,589,721      5,317,918      5,703,107

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 14.2% above its 200-period moving average and is in an upward 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 bullish on OCBC.SI and have had this outlook for the last 26 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 51.4284. This is not an overbought or oversold reading. The last signal was a buy 1 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 53.50. 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 9 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 -40. This is not a topping or bottoming area. The last signal was a sell 6 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 4 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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