Singapore Banks (DBS, OCBC, UOB) Getting Bullish!

Singapore Banks stock rally after a commitment by European banks and other private bondholders to accept a voluntary 50% writedown on Greek government debt, a boost in the lending power of the euro-zone bailout fund and a 106 billion euro ($148 billion) recapitalization of European banks. All 3 Singapore Banks (DBS, OCBC, UOB) have broken out from the down trend channel and also showing a potential “Higher High, Higher Low” uptrend chart pattern. This represents a good opportunity to long the stock till the 200D MA resistance. However, the current rally is not a good entry time for the value investing base on current valuation base on Price to Book (P/B), PE comparison and PEG ratio.



This Post Has 2 Comments

  1. Marubozu

    All 3 Singapore Banks (DBS, OCBC, UOB) retraced back to the uptrend support. Watch closely whether the stocks can stay above the support line and make a reversal. Watch for reversal pattern.

  2. Marubozu

    Piering Pattern at the support for UOB and OCBC.
    Bullish Engulfing at the support for DBS.

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