OCBC: Hammer at Support!

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OCBC formed a hammer at 38.2% (61.8%) Fibonacci support with a confirmation candle. RSI is oversold. My Technical Analysis class students should know what does it mean. Draw a 0%-100%-61.8% Fibonacci Level to derive the price target of this retracement.

Take note that OCBC has just started a new down trend after breaking down from a Symmetrical Triangle. There may be a swing trade opportunity if a down trend channel is formed. Price target of this Symmetrical Triangle breakout is $8.85. Good luck!

Original post by Marubozu My Stock Investing Journey

2013Dec13-OCBC Bk-800x600

Continue ReadingOCBC: Hammer at Support!

ST Engineering: Start Down Trend?

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ST Engineering looks like breaking out from the Symmetrical Triangle with price target of $3.30. Stock price is currently trading below all the 3 moving averages which are also trending down. Sit tight and get ready for the fall!

2013Dec8-ST Engg-800x600

 

See previous analysis on ST Engineering.

Key Statistics for STE

Current P/E Ratio (ttm) 21.3231
Estimated P/E(12/2013) 20.5263
Relative P/E vs. FSSTI 1.6020
Earnings Per Share (SGD) (ttm) 0.1829
Est. EPS (SGD) (12/2013) 0.1900
Est. PEG Ratio 4.2763
Market Cap (M SGD) 12,112.33
Shares Outstanding (M) 3,105.72
30 Day Average Volume 2,065,833
Price/Book (mrq) 6.3199
Price/Sale (ttm) 1.8779
Dividend Indicated Gross Yield 1.79%
Cash Dividend (SGD) 0.0300
Dividend Ex-Date 08/21/2013
5 Year Dividend Growth -1.24%
Next Earnings Announcement 02/14/2014
Continue ReadingST Engineering: Start Down Trend?