OCBC (O39) as Requested

OCBC (O39) chart has deteriorated. Most of the 5 day indicators said so. Namely, the ADX , RSI, CCI and the Volume indicators. In fact, CCI has registered an overbought status. Furthermore, there was a dangerously bearish convergence between the Momentum and Price. This would mean short term down trend very likely.
Although, there are clear indications of consolidation, there are many clues however, guarantee no avalanche triggering. Such are the: Price still above 10DEMA and the Guppy Chart still with its lower EMAs still erecting and widely spread. Also Candlestick wise, Doji has turned from Gravestone to Dragonfly. Personally, my sense is that the “tight range” consolidation ( Resistance $6.90 – Support $6.75)will drag on, unless otherwise revitalized by exciting news.
Fundamentally, I am convinced that, OCBC is good stock with all good figures and impressive profit. But if the Analyst now feel that the dividend/profit is not up to expectation, and downgraded it to neutral, & calling it as “not invigorating” enough in comparison to other banks; the short term price would be supressed. One of such report is reflected in the latest edition of The Edge (Mar 6 -12) echoing CIMK-GK’s report on the (Mar 1)