OCBC is currently sitting on the neckline of a Double Tops, and also a 200D MA support. The uptrend has already ended for OCBC since the support is broken and turned into resistance. If OCBC breaks the neckline, the price target of the Double Tops breakdown is $7.00 which also coincides with 38.2% FR level.
Keppel Corp is currently sitting on a critical support level. This support is a combination of up trend support, 200D MA and 23.6% Fibonacci Retracement Level. If this support is broken, Kep Corp chart will be bearish and may go down to $7.527 (38.2% Fibonacci Retracement Level). The next two immediate resistance will be 20D MA (about $8.70) and 50D MA ($9.10). Base on the support and resistance of the chart (on top of the current market sentiment) downside risk (10%) is higher while upside potential (5%) is limited.
Looks like Raffles Education is likely to rebound for the next few days because a Hammer is observed today. Hammer candlestick is a reversal pattern. In addition, the recent sell down pushed Raffles Education close to 100% Fibonacci Retracement Support Level. RSI and Stochastic are at Oversold region but are showing reversal sign of turning up. Immediate supprt at $0.275. Immediate resistance is 20D MA at about $0.33.
