OCBC Bank broke 200D SMA support today and technically bearish as the stock is trading below 20D, 50D and 200D SMA. OCBC bank continue to trade within a “Lower High, Lower Low” down trend channel. Bears out there, have fun shorting!
OCBC Bank has high probability to retrace after showing a Bearish Engulfing candlestick pattern at $9.80 resistance. Immediate support at $9.60 followed by $9.50.
OCBC Bank rebounded from 200D SMA (also the $9.00 psychological support) and 61.8% Fibonacci Retracement Level today. Two reversal candlesticks pattern – Matching Low & Long Dawn Line were formed to confirm the trend reversal. Opportunity for a short Bullish Trade. Immediate resistance is $9.29 followed by $9.60.
| Current P/E Ratio (ttm) | 12.4829 |
|---|---|
| Estimated P/E(12/2012) | 11.0437 |
| Relative P/E vs.FSSTI | 1.0204 |
| Earnings Per Share (SGD) (ttm) | 0.7290 |
| Est. EPS (SGD) (12/2012) | 0.8240 |
| Est. PEG Ratio | 1.4250 |
| Market Cap (M SGD) | 31,215.15 |
| Shares Outstanding (M) | 3,430.24 |
| 30 Day Average Volume | 2,986,333 |
| Price/Book (mrq) | 1.3199 |
| Price/Sale (ttm) | 3.8019 |
| Dividend Indicated Gross Yield | 3.41% |
| Cash Dividend (SGD) | 0.1600 |
| Last Dividend | 08/08/2012 |
| 5 Year Dividend Growth | 3.58% |
| Next Earnings Announcement | 11/08/2012 |