Oversea-Chinese Banking Corporation HEFFX Highlights

Oversea-Chinese Banking Corporation HEFFX Highlights

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 ranging.

By the way, prices are vulnerable to a correction towards 11.44.

The projected upper bound is: 12.01.

The projected lower bound is: 11.46.

The projected closing price is: 11.74.

OVERSEA-CHINESE closed up 0.010 at 11.730. Volume was 8% above average (neutral) and Bollinger Bands were 60% wider than normal.

OpenHighLowCloseVolume
11.7211.7511.6711.735,324,000

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

Moving Averages:10-period50-period200-period
Close:11.5411.3411.27
Volatility:121622
Volume:6,173,8845,287,6855,265,144

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

OVERSEA-CHINESE is currently 4.1% 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 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 6 periods.

Momentum

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 84.1268. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 15 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 69.02. 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 1 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 75. This is not a topping or bottoming area. The last signal was a sell 1 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 8 period(s) ago.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 25 white candles and 20 black candles for a net of 5 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

The following two tabs change content below.

John Heffernan

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

You must be logged in to post comments :  
CONNECT WITH