In today’s fast-paced stock market, understanding the subtle cues of technical analysis is crucial for smart investing.
In this article, we highlight Oversea-Chinese Banking Corporation Ltd (OCBC) (SGX: O39) and Haw Par Corporation Ltd (SGX: H02), as their price actions indicate an uptrend.
Key highlights from the technical report:
OCBC
Market Position: We are adding to our ‘technical buy’ position on OCBC, as the uptrend remains intact with consistent price action above the S$17.00 level.
Entry Prices and Support Levels: Recommended entry points are S$17.33, S$16.90, and S$16.30, with established support levels at S$16.96 and S$15.70.
Stop Loss and Resistance Levels: To safeguard investments, a stop loss is advised at S$15.65. The identified resistance levels are S$17.61 and S$18.92.
Target Prices: Set at S$18.90, S$19.88, S$20.90, and S$22.11.
Company Overview: OCBC offers a wide range of financial services, including deposit-taking, lending, trade financing, investment and private banking, treasury, stockbroking, insurance, credit cards, cash and asset management.
For a more detailed analysis, click on the link to access the report.
Haw Par
Market Position: Haw Par has a ‘technical buy’ call, signaling continued upside following a steady uptrend since October 2022. The stock’s volume has surpassed the 20-period average, indicating a sustained and healthy bullish phase.
Entry Prices and Support Levels: Recommended entry points are at S$11.60, S$11.00, and S$10.81, with established support levels at S$11.49 and S$11.00.
Stop Loss and Resistance Levels: To safeguard investments, a stop loss is advised at S$10.45. The identified resistance levels are S$12.61 and S$15.92.
Target Prices: Set at S$12.10, S$12.88, S$14.00, and S$15.11.
Company Overview: Haw Par is a multinational group with businesses in the healthcare and leisure sectors, along with investments in properties and securities. The largest contributor to the company’s healthcare business is Tiger Balm, a globally recognized brand it owns.
For a more detailed analysis, click on the link to access the report.
Take advantage of the stock’s momentum.
Our goal is to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.
Please refer to the attached report for the disclaimer.
