OCBC Bank: Time to Short?

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OCBC has broken the neckline of a Rounding Top / Triple Tops. The recent rebound failed to go above the neckline and thus this previous support now become resistance. All three 20D, 50D, 200D SMA are trending down. 2/5 EMA are showing bearish signals on both daily and weekly chart. OCBC has also broken the recent low of $8.40 and the price target for this shorting trade is $8.00 (161.8% FR).

  • Current Price = $8.38
  • Current PE = 12.46
  • Rolling PE = 11.45
  • Dividend Yield = 3.58%
  • Beta (75 days) = 0.99 (highly correlated to STI)

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