OCBC breakout from a Symmetrical Triangle and rebounded from the uptrend channel support (also the 38.2% FR level). The down trend is officially ended which this breakout. The minimum price target of this symmetrical triangle breakout is $10.50. As there are no clear significant resistance, the next immediate will base on the Fibonacci Retracement Level.
Key Statistics for OCBC
| Current P/E Ratio (ttm) | 9.5142 |
|---|---|
| Estimated P/E(12/2013) | 13.3935 |
| Relative P/E vs. FSSTI | 0.7293 |
| Earnings Per Share (SGD) (ttm) | 1.0910 |
| Est. EPS (SGD) (12/2013) | 0.7750 |
| Est. PEG Ratio | 1.9319 |
| Market Cap (M SGD) | 35,617.86 |
| Shares Outstanding (M) | 3,431.39 |
| 30 Day Average Volume | 5,356,500 |
| Price/Book (mrq) | 1.5041 |
| Price/Sale (ttm) | 4.2132 |
| Dividend Indicated Gross Yield | 3.18% |
| Cash Dividend (SGD) | 0.1700 |
| Last Dividend | 04/29/2013 |
| 5 Year Dividend Growth | 3.34% |
| Next Earnings Announcement | 08/02/2013 |
I find it strange why you chose not to include the uptrend line in your previous analysis.
I was using different time frame for my trade. When I change to longer time frame, I saw the uptrend line. I miss that uptrend line in my previous analysis.
Do take note that everyone analyse the chart differently and planning the trade in different time frame.
KK, retracement now?
Currently OCBC is rejected at 50D SMA. Possible retracement back to $10.20 level (0%-100%-61.8%).