The email address in "Contact AK: Ads and more" above will vanish from November 2018.

PRIVACY POLICY

FAKE ASSI AK71 IN HWZ.

Featured blog.

1M50 CPF millionaire in 2021!

Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Another free "e-book".

4th free "e-book".

Pageviews since Dec'09

33,854,084

Financially free and Facebook free!

Recent Comments

Hongjin commented on 1q 2025 passive income ocbc and alibaba: “How do you encourage retail investors who are not equipped…”
mitchell commented on 1q 2025 passive income ocbc and alibaba: “Clct financials getting worse and worse every single year.…”
LZ commented on 1q 2025 passive income ocbc and alibaba: “What DCF do u usually used for Alibaba, AK? i'm using…”
TH commented on srs portfolio in 2024 what did i do: “Hi AK, I have hit the max tax relief of $80k. Does it still…”
HappiSnoey commented on 1q 2025 passive income ocbc and alibaba: “Hi AK, hang in there! It will all pass… ”
fisher commented on 1q 2025 passive income ocbc and alibaba: “Take good care of yourself AK and look forward to happier…”
MPC commented on 1q 2025 passive income ocbc and alibaba: “Hi AK,Previously you mentioned that you may buy ireit at…”
Ss commented on 1q 2025 passive income ocbc and alibaba: “Dear Ak, Thank you for the post, truly appreciate it. Your…”
zhenling commented on 1q 2025 passive income ocbc and alibaba: “Made a shopping list waiting to buy various stocks! Pls…”
Shaun commented on sold alibaba for 51 gain: “Hi Ak, I understand you are bullish on Wilmar given how…”
Shaun commented on sold alibaba for 51 gain: “Hi AKI understand you are bullish on Wilmar given how…”
Shaun commented on sold alibaba for 51 gain: “Hi AKI understand you are bullish on Wilmar given how…”
SN commented on sold alibaba for 51 gain: “Hi AK, with ST Engineering up 48% YTD, will you consider…”
Yue commented on 12m53 plan for cpf in 2025: “Hi AK, can I know the reason why you don't transfer all…”
Yue commented on 12m53 plan for cpf in 2025: “Hi AK, can I know why don't you just transfer all your…”
Yv commented on 12m53 plan for cpf in 2025: “Hihi AK, with Tbills yield dipping to 2.75% recently, just…”

ASSI's Guest bloggers

OCBC and IREIT Global: Missed the boat?

Saturday, February 4, 2023

This blog is in response to a reader who asked if he has missed the boat for OCBC and IREIT Global?

It feels like it has been some time since I had a blog like this.

Very rare.

If you like such blogs, hope you enjoy this one.







AK says to reader:

OCBC's chart shows a strong upward momentum in the MACD but the MFI shows that it is borderline overbought. 

Testing resistance now at $13 and if it fails to break resistance, the immediate support is at $12.50 which is provided by a rising 50 days moving average. 

A stronger support is the longer term 200 days exponential moving average which is now at $12.15 but as it is still rising, at this point, this support price will move higher over time. 

OCBC's chart.






Likewise, IREIT Global's chart shows a strong upward momentum in the MACD but the MFI has dipped and is no longer in overbought territory which gives it a bit more room to move higher with less resistance. 

Unlike OCBC, however, IREIT Global's 200 days moving average is still declining but very slightly so which means it is unlikely to be a strong support although this is where IREIT Global's price is currently sitting.

In a relatively buoyant market, to be fair, even a weak support is more likely to hold.

If this support breaks, then, the rising 50 days moving average should provide the next support which, at this point, is at 52 cents.

As this support is rising, it is likely to be relatively strong even though it is a shorter term moving average.

It is also interesting to note that the 50 days moving average formed a golden cross, a bullish crossover with the flattening 100 days moving average in the middle of January. 

IREIT Global's chart.






In summary, both OCBC and IREIT Global's charts show that they have emerged from their multi months bottoming process and they are unlikely to retest their October 2022 lows anytime soon. 

As usual, remember that technical analysis is about probability and not certainty. 

More importantly, mental AK is just talking to himself, as usual.




6 comments:

C said...

AK, excellent talking to yourself. Looks like IREIT can buy a bit more if it retrace to around $0.52-0.53. A big If. But at 0.56, assuming dividend at 4.5 cents (from IREIT website), still about 8% yield, still better than FD, SSB or T bills. Though they are different asset class, but I see IREIT as an insurance of sorts.

A bit worry for my Wilmar ( due to India Adani issue) and CDG ( rising costs, losing bus tender to competition) holdings. Hope it won't be too bad, no one knows.

AK71 said...

Hi C,

Mental AK talking to himself makes you happy?

Like that also can? ;p

A 7% distribution yield from IREIT Global would make me quite happy.

That is pretty good from a REIT with a very strong balance sheet in today's environment. :)

Adani Wilmar is only one part of Wilmar's sprawling business empire. I am not too worried.

CDG could retrace to test its lows but I think the bottom is in.

Famous last words? Maybe. ;p

C said...

I must be mental to read your blog for past 10 years.. next up , should be averaging up for my IREIT but will pace out my purchase. Think I need to meditate some for my Wilmar and CDG.. Your self talk reduce my own anyhow talk..cheers :)

AK71 said...

Hi C,

Always a pleasure to meet mental people.

Makes me feel that I am normal. ;p

10 years? Wow!

Come to think of it, this is my 13th year blogging.

I am glad talking to myself has been helpful to you too. :D

garudadri said...

Dear AK
Thank you
The ten year yields are rising a bit and if the fed speak reverses to a tougher stance, both OCBC as well as the REITS will feel the recessionary heat
I will be adding banks plus IREIT and others - waiting
Wilmar is again gently dropping and becomes a buy at around these levels
Regards
Garudadri

AK71 said...

Hi Garudadri,

I have found out over the years that it is very hard to account for Mr. Market's mood swings.

Just have to stay invested in good income generating businesses, hold some fixed income with decent yields to smooth out the volatility and keep a meaningful emergency fund.

Peace of mind is priceless. :)

Good luck to us all. :D


Monthly Popular Blog Posts

All time ASSI most popular!

 
 
Bloggy Award