Chart Source : 11th june 2019
OCBC formed a nice base last week and rebound off its $10.50 support and continued to rally above its 5ema which gave us some confidence in looking at it.
It is a useful indicator for us and once it managed to break above that we alerted our EXCLUSIVE CLIENTS so that they could Prepare, Plan and Proceed.
We’re glad that OCBC managed to hit our two targets this morning and having some resistance at $10.82 now. A break above $10.82 might see it move higher to $10.90 where it might face some strong resistance. UOB is currently at the 20ema. So lets see if it can break which might be an indicator if OCBC can break that too.
It is also good to take a look at the STI component stocks which are your blue chips during rebound as these stocks are usually what fund managers might be looking at.
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