Are Banks Back In Play?

14th October, 2021, 7:52 PM

Are Banks Back In Play?

Are banks back in play? Lets take a quick look at the charts to see if momentum to the upside has returned.

Lets take a look at OCBC first.

Chart source: AdvisorXs 14th Oct 2021

OCBC Bank has broken above its horizontal resistance of around $11.64 which our clients were alerted on. From there we can see if move higher to our upside targets. A new upside move might be in play as banks are starting to come back in play. The big banks in US are also reporting results this week which might give a boost to our Singapore side if results are good. Volume is also starting to return as traders are starting to come back to the bank counters.

We might see OCBC move up to around $12 which is the gap resistance and a break of that might see it push higher to $12.24.

UOB

Image Source: AdvisorXs 14th Oct 2021

UOB chart quite similar to OCBC’s chart as it broke above its horizontal resistance of around $26.34. Volume started to come in yesterday too as our three local banks started getting more attention. If this level is able to hold, we might see it move to $26.90.

DBS

DBS is the only bank that has yet to break out. Will it breakout soon? Is this on your watchlist? We have drawn our levels what we are targeting. What will your trade plan be like?

As we can see, momentum looks like its returning to the three local banks with DBS lagging behind. Will it catch up?

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Yours

Humbly

Kelwin&Roy

DBS – [ Momentum Slowing Down? Time To Take Some Profits? ]

26th November, 2020, 7:00 AM

DBS – [ Momentum Slowing Down? Time To Take Some Profits? ]

Chart Source: Poemsview 26th Nov 2020

DBS named the best bank in the world in 2018 was a stock that has been on our watchlist for a long time!

Back in late Sept when we posted on DBS it was just trading slightly below $20. We continued to update our clients in mid  OCT (see above for a snap shot)  and an update again in late Oct. Since then, DBS has rocketed over 25% and we hope you managed to catch a ride on this rocket!

So the question is, is it time to take profits? Well, the answer really lies on your objective for entering. If this trade has met your objective price target, then it’s wise to sell or at least take some profits.

If your objective was to invest in the banks for dividends for the long haul, then selling now and putting your funds back in the bank might not be the best thing. Banks interest rates as we all know are rock bottom *psst* its 0.05% the last we checked. Just check out the rates HERE! So leaving it in the stock might be a wiser thing to do unless you have somewhere else you want to deploy your funds too. At current price, DBS yield is around 4% still decent as compared to leaving it in the bank.

So now lets take a look at the chart to get some sense of direction. From the technical perspective, DBS saw an increase in volume today but the candle didn’t show a full body one and it actually closed slightly below its opening price. Short term wise, we feel DBS might be over extended and a pullback to the 5ema first would be healthy and a pullback to 10ema would be even better! We have drawn the support and resistance for reference too. Common indicators are also showing signs of overbought region. We would prefer a pullback before an entry!

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Humbly

Kelwin&Roy

OCBC – [ Catching The Rebound Using Moving Average, Second Target Met!]

18th March, 2019, 12:07 PM

OCBC – [ Catching The Rebound Using Moving Average, Second Target Met!] OCBC 18th March 2019

Chart Source : Poemsview 18th March 2019

OCBC started the Monday morning with a nice upside following Dow Jones lead on friday night. Singapore banks were generally up with OCBC taking the lead up close to 1% before lunch time.

A break above the 5ema at $11.06 for OCBC gave a clue and our EXCLUSIVE CLIENTS were alerted on it.  Just within a day and two of our targets were met with $11.20 being the latest target to be hit.

OCBC might see more upside if it can hold above the 20ema which is at $11.20. The next possible upside might be $11.29.

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Yours

Humbly

Kelwin&Roy

OCBC – [ Caught The First Rebound, Want To Know Next Target? ]

13th September, 2018, 5:26 PM

OCBC – [ Caught The First Rebound, Want To Know Next Target? ]OCBC 13th Sept 2018

Chart Source : Poemsview 13th Sept 2018

OCBC a blue chip had a nice rebound today closing one cent off the day high at $11.14. Its first rebound for the last two weeks and we are glad we managed to catch and inform our EXCLUSIVE CLIENTS! just yesterday!

An early entry at $11.05 gave a nice upside target of $11.13 first and staying above might see it move towards $11.20. OCBC has also broken above its downtrend line with some volume which is a positive sign.

In such a market, staying nimble and not being greedy is important as this is a rebound trade we would want to be protecting our profits along the way because who knows what Donald Trump might say to stir the markets again.

It’s important to stay alert and be flexible in this market as we continuously inform our client just like this OCBC trade analysis. An opportunity arise and its important to grab it.

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Kelwin&Roy

OCBC – [ Morning Highlight! Hitting Our Target With Early Alert Sent Out]

25th July, 2018, 10:03 AM

OCBC – [ Morning Highlight! Hitting Our Target With Early Alert Sent Out] OCBC 25th July 2018

Chart Source: Poemsview 25th July 2018

OCBC part of the STI Component having a very nice run within the first hour of trading. OCBC being the leader among the Singapore banks for the time being up over 2%!

We’re glad that we spotted this trade which we sent out to our EXCLUSIVE CLIENT just over the weekend with our analysis in it with an entry price of $11.31 Our advanced analysis was sent over the weekend or our clients to prepare, plan and decide.

OCBC hit our first target of $11.45 in less than a week and even hit our next target of $11.55 within minutes! A very nice trade if we must say so ourselves. Market has been having a good rebound so far and we hope our readers are taking good advantage of it.

OCBC next upside target might be $11.71. Volume looks good for the morning. So let’s see if it can carry it up to $11.71 in the coming days.

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Kelwin&Roy