Chart Source: Poemsview 2nd May 2018
OCBC has been climbing steadily in the recent weeks up over 8% since our first entry at $12.97 just in April.
In less than a month we saw OCBC making new high as banks being part of the STI component stocks were the main driver for our STI rally. OCBC results will be out really soon and we drew the resistance line which it faces now.
DBS reported a good set of results and it might be likely that OCBC might be reporting a good set of results too. But the real question, has OCBC ran ahead of its results. Could the dividend be holding OCBC up too.
We’re watching the uptrend resistance line closely and a trailing stop would be recommended in order to maximize profits.
The Moving Averages have started to cross over but of course if one were to enter now his or her entry might be considered late.
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