Oversea-Chinese Banking HEFFX Highlights

Oversea-Chinese Banking 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: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

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

By the way, prices are vulnerable to a correction towards 11.30.

The projected upper bound is: 11.23.

The projected lower bound is: 10.66.

The projected closing price is: 10.95.

OVERSEA-CHINESE closed down -0.070 at 10.960. Volume was 39% above average (neutral) and Bollinger Bands were 53% narrower than normal.

OpenHighLowCloseVolume
10.9611.0110.9610.966,614,000

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

Moving Averages:10-period50-period200-period
Close:11.1111.3611.3
Volatility:131622
Volume:5,160,8284,804,2965,255,072

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 3.0% below its 200-period moving average and is in an downward 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 bearish on OCBC.SI and have had this outlook for the last 23 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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 31.1926. This is not an overbought or oversold reading. The last signal was a sell 4 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 37.17. 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 buy 110 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 -103.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 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 sell 0 period(s) ago.

Candlesticks

During the past 10 bars, there have been 4 white candles and 3 black candles for a net of 1 white candles. During the past 50 bars, there have been 19 white candles and 26 black candles for a net of 7 black candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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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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