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Oversea-Chinese Banking Corp ST: the RSI is oversold
Trading Central | 2018-06-24 23:18:00

Alternative scenario: above 12.1, look for 12.6 and 12.8.

Our pivot point stands at 12.1.

Our preference: the downside prevails as long as 12.1 is resistance.

Alternative scenario: above 12.1, look for 12.6 and 12.8.

Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 12.47 and 12.99).

Supports and resistances:
12.8 **
12.6 *
12.1 **
12
11.75 (SGD-last)
11.3
11 **
10.8 *
10.6 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 06-25-2018 at 01:18 UTC+1
Price reference: 11.75 last known on 06-25-2018 at 01:18 UTC+1
Investment horizon: ST

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