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Thursday, January 12, 2012

Will OCBC Catch Up?

The bank sector both DBS and UOB up quite a lot except OCBC. For the past two trading days up to now, DBS +4.9% and UOB +4.6%, and OCBC is still zig-zag hovering at around 8.0. In fact it has been consolidating at 7.8-8.0 for the past four weeks or so. A break above 8.0 firmly will be a signal to more upside move. I'm rather bullish than bearish on it, just take a look at the candlestick color over the past seven days, more bullish or more bearish? There are six green color out of seven candlesticks.

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