Technical Analysis on Singapore 3 Bank Stocks

The 3 banking stocks in Singapore generally tend to trade in rather tight lockstep. This seems to be the case this time as well. All 3 stocks have formed tops at this point in time.
OCBC displays a lack of momentum, trading sideways in a rather tight consolidation for about a month. During this time, momentum has been fading as seen by the divergence in price and stochastics.

UOB has shown a rather textbook momentum divergence. A push to recent highs price wise but a lower high in momentum. This tells us internal buying pressure is weak.

DBS’s price formation is slightly messier than OCBC and UOB, but has arguably topped out in the short term after testing resistance at S$12.82.

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