OCBC Bank: Rebound!

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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.

 

Key Statistics for OCBC

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
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Yangzijiang (YZJ): Rebound but ….

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Yangzijiang rebound strongly today after forming a Long Dawn Line candlestick pattern with a spike in buying volume. This is a trend reversal pattern after the recent down trend. However, YZJ must clear $1.38 (61.8% Fibonacci Resistance) and $1.45 (neckline support turned resistance) to break the down trend pattern.

  • Current Price: $1.325
  • Current PE: 8.81
  • Rolling PE: 7.94
  • FY09 PE: 9.98
  • FY08 PE: 16.34
  • FY07 PE: 29.78

Current YZJ valuation is not expensive and it is a good opportunity for short term trade to ride on the rebound.

Continue Reading Yangzijiang (YZJ): Rebound but ….