OCBC - Shares buyback on a regular basis.
July 21, TA for OCBC
- Trend - Side but trending above all MAs.
- Momentum - Flat
- Support - 9.30
- Resistance - 9.60 (now support)
- New resistance - 10.00
- Candlestick - 1x white soldier
- Volume - 3x
In general, all the SGP Stocks are in UP Trending - trending above all MAs. But for OCBC - this stock breaks "resistance turn support" with high volume. OCBC had been trying to break the resistance for 6th times and never manage to breakout. But this round, a breakout is observed. It might be trying to reach the $10 mark.
What I would like to highlight to my viewers, this stock has a very regular share buyback programme. I just extracted part of the latest buyback. Share buyback program creates good value for shareholders, but bad for business as it shows that it has no way to utilize its money but to enhance shareholder value.
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