OCBC further price decline?
https://www.tradingview.com/chart/vAnVki8y/
Looking for alternative interpretations!
Money Flow Index: 33.24, small room for further decline. Might also be biased towards 27th May distribution volume ex dividend. (Uncertain)
CMF: - 0.29 as of 29th May. Major sell off unlikely, limited room for major demand declines (Uncertain)
Moving Averages: Likely for 14 day SMA to cross under 50 day SMA (Bearish)
Fib Retracement: Resistance at 9.07 (38.2%) remains untested, period selected from 20th Feb to 23rd March for Fib Levels (Bearish)
MACD: MACD line crossed under Singal Line, unlikely to break above the 0 line into positive territory soon (Bearish)
Side note, Bollinger Bands look to be tightening, may have stronger price action soon, hopefully to lower price levels!
End May Events:
- Rising U.S-China Tensions over HK security legislation
- Protests emerging across U.S, George Floyd incident
Looking for alternative interpretations!
Money Flow Index: 33.24, small room for further decline. Might also be biased towards 27th May distribution volume ex dividend. (Uncertain)
CMF: - 0.29 as of 29th May. Major sell off unlikely, limited room for major demand declines (Uncertain)
Moving Averages: Likely for 14 day SMA to cross under 50 day SMA (Bearish)
Fib Retracement: Resistance at 9.07 (38.2%) remains untested, period selected from 20th Feb to 23rd March for Fib Levels (Bearish)
MACD: MACD line crossed under Singal Line, unlikely to break above the 0 line into positive territory soon (Bearish)
Side note, Bollinger Bands look to be tightening, may have stronger price action soon, hopefully to lower price levels!
End May Events:
- Rising U.S-China Tensions over HK security legislation
- Protests emerging across U.S, George Floyd incident
Penafian
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