OUE (technical)

OUE: OCBC sees more upside ahead after the stock rebounded off its 3-month uptrend support recently; this was followed by a bullish break above the $2.55 key resistance on increasing volume yesterday. Notes MACD has just initiated a bullish crossover; which suggests that the upside momentum is improving as well. Thinks the counter could potentially head higher towards the next obstacle at $2.80 (key support-turned-resistance) in the weeks ahead. Sees immediate support at $2.55, with stop-loss exit slightly below at around $2.52.