Wah, durian is dropping! Quickly take shelter!
She has broken down the support at 12.60 and closed 15 cents lower at 12.54 accompanied with super high volume this is rather Bearish!
I think ia good to wait for it to stabilize first before deciding the next action!
Short term wise, likely to go down to test 12.20 than 12.00.
Pls dyodd.
Ocbc Bank - She is rather weak! Likely to breakdown 12.60 and go further down to test 12.20 and 12.00.
Ocbc Bank - 3rd quarter results is out! Net profit is up 21% to 1.81b.
9 month Net Profitis up 32% to 5.4b(record Profit).
Net interest income is up 17% to 2.46b.
Net interest margin is up 2.26%.
It looks like NIM is still able to achieve +1bp for 3rd quarter.
I think results is good but market doesnt seem to like it as the price has turned lower , down 12 cents to 12.94! Cautious mode!
30th October 2023:
Chart wise, bearish mode!
If 12.68 cannot hold, most probably we may see her drifting lower to...