OCBC

Did You Notice This About These Two Banks?

Kelwin & Roy dbs , , , , ,
24th November, 2022, 11:50 PM

We have seen a good run up for the three local banks on better than expected results and on the back of rising interests rate. But can this run continue on forever? As we know, nope! There will be a time for a break and pullback and there is something we noticed.

DBS 24th Nov 2022

DBS, as we can see has been guided by the 5ema and 10ema. This moving average has been guiding DBS for the last month and has never closed below that BUT today at close, we can see that it has closed below the 5 and 10ema. Is this a sign of more pullback? We think its possible! Its good for the banks to pullback so that those who missed the rally can possibly re-enter. The initial support would be at the 20ema of around $34.75. The Next downside support would then be around $33.84 near the uptrend and horizontal support.  We can see the volume has increased for today too. This might also help support the downside. If you’re looking for a short candidate, this might be one counter. If DBS closes above $36 then this short trade would be invalid.

OCBC 24th Nov 2022

OCBC, also similar to DBS, it has closed below its 5 and 10ema which might signal more downside. An increased in volume might support the downside for OCBC too. It has closed below the short term uptrend line too and the first downside support is around the 20ema which is $12.26. If more weakness comes in then we might see $11.87 on the cards. A close above $12.60 would make the downside invalid. Remember, if you are looking to short always have a TRADE PLAN with a stop loss, entry and target price. Don’t naked short and one can consider using Poems CFD for short or even DLCs!

As for UOB, it hasn’t broke and close below its 5ema so until we see that, then some pullbacks will be on the cards.

If you got any questions, feel free to CONTACT US!

Yours

Humbly

Kelwin & Roy

 

Are Banks Back In Play?

Kelwin & Roy Stock Market , , , , , , , , , ,
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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Humbly

Kelwin&Roy

OCBC – [ Sector Rotation, Cyclical Sectors Benefiting]

Kelwin & Roy OCBC , , , , , , , , ,
11th November, 2020, 5:49 PM

OCBC – [ Sector Rotation, Cyclical Sectors Benefiting]OCBC 11th nov 2020

Chart Source: Poemsview 11th Nov 2020

OCBC along with the other two banks saw a surge in price over the last few days and even before the election results were out. As these three banks make up quite a heavy component of the STI, it was no surprise that we saw the STI trending up the last few days too.

We wanted to be prudent and wait for results to be out before entering the market as we never know what may happen and anticipating results could result in being a hero or zero! As OCBC showed signs of interest and life on monday we alerted our EXCLUSIVE CLIENTS on this trade analysis and we’re glad OCBC gave us a favourable run. From our alert of $9, it has ran up to $9.58 which is more than 6% in three days!

From a technical perspective , OCBC has ran up for about 5 days and today’s volume has started to decrease. Some possible scenarios, we might see it push higher to our next target of around $9.84 which is also the gap resistance in the next couple of days. Optimism on vaccine news has funds flowing to the more cyclical sectors on hopes of recovery. It could also take a break as it ran up quite a bit so having a break is a positive thing. We’ll prefer for a retracement before looking at it again.

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Kelwin&Roy

OCBC – [ Saw The Resistance? Take Some Profits First! ]

Kelwin & Roy OCBC , , , , , , , , , ,
4th November, 2019, 7:35 PM

OCBC – [ Saw The Resistance? Take Some Profits First! ] OCBC 4th Nov 2019

Chart Source: Poemsview 4th Nov 2019

OCBC bank hit our resistance of $11.13 early in the morning and didn’t managed to break above it through the day. This was highlighted in our previous post just yesterday too. OCBC has ran ahead of its results so market might be expecting some positive release, failing which might see it getting hammered

As OCBC results are coming out tomorrow morning it might be better to lock in some profits at least in case of any shocker. As seen from UOB , although profit increased it still got sold down initially.

We’ll be analyzing the results and chart and will post updates after tomorrow.

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Kelwin&Roy

OCBC – [ Game Plan Before Fed Meeting ]

Kelwin & Roy OCBC , , , , , , , , , , , ,
16th September, 2019, 9:07 PM

OCBC – [ Game Plan Before Fed Meeting ]OCBC 16th Sept 2019

Chart Source: Poemsview 16th Sept 2019

OCBC saw a nice run ever since building a base around $10.50 level and started climbing up.

Once we saw that OCBC climbed to the point where it broke its previous horizontal resistance we decided to alert our EXCLUSIVE CLIENTS on it. An entry at $10.67 saw a nice risk reward ratio for this trade. Despite all the fears around, with the trade wars and interest rates cut, OCBC continued its climb allowing us to hit our 4th target of $11.08 all within a short span of two weeks.  It is important to learn how to swing your trade in order to capture more upside especially if one thinks that market might present more opportunities. If a trader were to just contra his or her trade they might miss out on the remaining run. Hence having some leverage to swing a trade becomes very important. We’ll explain of this in our upcoming seminar next monday.

As for OCBC now, much of it might be decided on the upcoming fed’s decision. They will be meeting from 17-18sep(USA timing) which means only on 19th Sept then will we know the results.

Hence for such cases we usually try to avoid touching the stock as we don’t want to be shocked by any surprises. As OCBC has risen quite a fair bit we would rather take profits off the table and sleep in peace and not anticipate what the might or might not do.

Want to learn how to use CFD to swing your trade and not trade in and out all the time?

On 23rd Sept we’ll be revealing to you one of our trade secret and how to use CFD to swing your trades and avoid overtrading .

Date: 23rd Sept

Time : 7:30-9:30pm

Registration is a must and can be done via the link below

https://www.eventbrite.sg/e/continuation-of-trade-wars-how-to-use-cfd-moving-average-to-manage-current-volatile-market-tickets-72254205273

See you there

Yours

Humbly

Kelwin&Roy

OCBC – [ $10.90 Target Hit, Resisted After That, Time To Come Out? ]

Kelwin & Roy OCBC , , , , , , , , , , ,
17th June, 2019, 9:56 PM

OCBC – [ $10.90 Target Hit, Resisted After That, Time To Come Out? ] OCBC 17th June 2019

Chart Source: Poemsview 17th June 2019

OCBC together with UOB made an upwards movement this morning and closed positively while DBS didn’t manage a good closing.

OCBC has hit our third target of $10.90 as previously blogged and an alert was sent to our EXCLUSIVE CLIENTS to inform them that a significant resistance was hit. Of course final decision lies on the individual as we try our best to provide as much information as possible.

OCBC currently is facing some resistance and some consolidation around here might be a good thing and a break above $10.90 might signal more upside.

In such a volatile market we feel that booking profit fast might be one of the solutions to escape whipsaws. Don’t be too greedy at this  point , be nimble in order to survive the ride.

We’ll be conducting a workshop next Wednesday ( 19th June) at 7:30pm where we’ll go through things we learnt from the recent trade wars and how to better prepare ourselves for what is to come.

Sign up HERE if you don’t want to miss out on this great opportunity to learn and prepare yourself for the volatile market.

Yours

Humbly

Kelwin&Roy

 

OCBC – [ Two Targets Hit In A Day, Further Upside? ]

Kelwin & Roy OCBC , , , , , , , , , ,
11th June, 2019, 10:04 PM

OCBC – [ Two Targets Hit In A Day, Further Upside? ]OCBC 11th June 2019

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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Kelwin&Roy

OCBC – [ 3rd Target Met, Next Resistance At The Gap?]

Kelwin & Roy OCBC , , , , , , , , , ,
19th March, 2019, 7:05 PM

OCBC – [ 3rd Target Met, Next Resistance At The Gap?]OCBC 19th March 2019

Chart Source: Poemsview 19th March 2019

OCBC along with the other two banking stocks continue it run up today edging up 0.6% before a slight retracement.

With the run up today OCBC  hits our third target of $11.29 for this round up 2% since our ALERT! 

With the $11.29 resistance as mentioned yesterday on the blog overcoming that might see OCBC move up to $11.41 at the Gap resistance.

The gap resistance might be a tough resistance to overcome so it might be wise to take some profit off the table since our ALERT using the simple moving indicator spotted it at $11.06.

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Kelwin&Roy

 

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

Kelwin & Roy OCBC , , , , , , , , , ,
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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Kelwin&Roy

OCBC – [ Second Target Met, The Importance of Taking Profit]

Kelwin & Roy OCBC , , , , , , , , , ,
19th February, 2019, 10:29 PM

OCBC – [ Second Target Met, The Importance of Taking Profit]OCBC 19th Feb 2019

Chart Source : Poemsview 19th Feb 2019

OCBC continued it move up today meeting our second target of $11.80 as blogged last night. What was interesting is that at around that point ($11.80) OCBC started showing weakness. The resistance at $11.80 proved strong and OCBC couldn’t break above that and succumb to profit taking.

Once again we’re glad that we alerted our EXCLUSIVE CLIENTS to also take some profit off the table since our second target has been met. Our EXCLUSIVE CLIENTS were alerted when OCBC was trading at $11.60 just LAST WEEK with an impending breakout and we’re glad our second target was met.

Reminder that OCBC results will be coming out very soon. Will this retracement be a chance for entry?

It is important to manage your trade and let your winning trade run while protecting the downside. Ever wonder how to come up with a sound and actionable trade plan?

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Kelwin&Roy