Chart[17] - Counters hitting resistance

DBS: The counter closed at 16.12, which was marginally above past 6 months resistance ~16.02. Shall it be broken, next resistance line could be 16.8. Historically, the counter used to enter CD (cum-dividend period) by mid August. Fundamentally, current price is still attractive as well below book value. Technically, potential break up from resistance might be forming.

OCBC: The counter is hovering around its 3 months resistance ~ 8.94. Coming CD period supposed to be by August. Major concern are non performing loan as well as earning contributed from Great Eastern (which dragged down overall profit last quarter) on coming report. Historically, EX (exclusive-dividend) period on Aug used to be bargain hunting window for the counter.

ST Engineering: The counter has never broken 3.46 since Jun 2016. Recent bull run was mainly due to rising risk appetite among investors globally. It would be interesting to see whether the one year resistance could be exceeded. Similarly, August would be dividend period from the counter, and price used to fall on EX date.