getBindingContext() returns undefined

getBindingContext(sModelName?)

Get the binding context of this object for the given model name. If the object does not have a binding context set on itself and has no own Model set, it will use the first binding context defined in its parent hierarchy.

You have given name to the model (this.setModel(oModel, "myModel")).
Specify the model name (oItem.getBindingContext("myModel")) to access the binding context.

The same applies to setBindingContext(oContext, "myModel").

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