To The Moon

OCBC Pulled Back 6% — I Am Using the Dip to Add

Today was a painful session for OCBC(O39.SI), with the share price pulling back by around 6%. Instead of panicking, I decided to collect some shares and average up my position, as I see the significant pullback as a potential opportunity rather than a reason to exit.

From a technical perspective, I was expecting some rebound once the share price touched its EMA50 trendline support. That was the level I was watching closely, so I was comfortable adding gradually rather than trying to time the exact bottom. For me, the key is to take advantage of weakness while still keeping enough cash available in case the pullback continues.

However, the stock did not behave as I expected today. OCBC eventually closed below the EMA50 support, which is a signal I cannot ignore. This means I remain cautious from here and will pay close attention to its price action over the next few trading sessions.

I am still positive on OCBC over the longer term, but I do not want to blindly average up just because the price has fallen. If the stock can reclaim the EMA50 and show signs of stabilisation, that would give me more confidence. If weakness continues, I will slow down my buying and wait for a stronger technical setup.

For now, I have added some OCBC during today's massive pullback. The goal is not to catch the exact bottom, but to build my position patiently while managing the downside. Let's see whether OCBC can stabilise and rebound from here. 👀

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