Shares & Derivatives
Why I bought OCBC stocks?
By Singapore Stocks Investing (SSI)  •  February 6, 2014
Today, I bought some OCBC stocks as the STI headed north by 0.95% and OCBC stocks rebounded by 1.8%. I have been thinking about entering the markets to buy OCBC stock ever since the stock went south following talks that the bank is trying to acquire Wing Hang bank in Hong Kong. I think besides this news about the acquisition of Wing Hang bank, the sell-off in the Singapore’s and regional stock markets also contributed to the southward direction of OCBC stocks. I still think my entry though based on some good technical fundamentals like how the OCBC stock price is heading up from the RSI’s “Oversold” region may not be 100% “timely”. I mean when it comes to such acquisition news, this whole acquisition saga can play out for some time and this may cause OCBC stock price to dance “cha cha”. But looking at how OCBC stock opened this morning with a “gap up” from the closing price of 5 February 2014, I decided that this price range of OCBC should be quite attractive......
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By Singapore Stocks Investing (SSI)
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