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Weekly chart for OCBC shows a double top pattern formation and the daily chart went under the 200MA yesterday, tested it today and had a huge sell down at the close - ie not a good sign, especially since STI was up 1.7% today. It is now at its support point and if this does not hold, it may head towards its next significant support at 7.44. But then again, if the market sentiments are ok tomorrow, then a quick 1-2 day opportunity counter trend trade may be possible.




F&N looks to be in a symmetrical triangle formation and it is nearing its apex. Though it is generally a continuation pattern, ie should be breaking upwards, it may also break down if the market goes bearish.

Keeping a watch on the following counters for possible swing trades:

Noble: Strong uptrend stock. May swing back up without getting back into the buy zone as CCI already turning back up.


Indo Agri: Bounced off around 20MA today so if it clears today's high, may swing back up. Only thing is lower volume compared to yesterday.


Kepland: Doji forming around 20MA and previous resistance may be support.


OCBC: So far seems to be supported by 40MA.

Will be keeping a watch on the following for possible swing trades:

OCBC:

Straits Asia:


Parkway:

OCBC has now pulled back into the buy zone and if previous resistance becomes new support, then it may swing back up. Keeping a watch on this.