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Thursday, December 19, 2013

UOB

Update for UOB 13th Feb 2014 - UOB has managed to bounce off from the low of $19.40 on 4 FEB and risen up to close at $19.98 yesterday ( 12 Feb). All 3 indicators MACD ,RSI & Stochastic are showing sign of turning upwards which is rather positive. It may move up to test $20.44. Breaking out of $20.44 with good volume that may drive the share prices higher towards $20.80 soon.
(trade base on your own decision)

Update for UOB 6th Feb 2014 - UOB is rather bearish from TA point of view.It has been drifting lower from $20.44 to close at 419.47 yesterday. All three indicators are still pointing downwards which is rather negative. Short term may continue to go down to $19.00 then $18.80. Yesterday volume was rather high and may be sign that people are accumulating. It may do a dead cat bounce from here.
(trade base on your own decision)
UOB seems to have bounced off from the support of $20.01 and it is slowly turning up.
Both MACD & Stochastic are showing sign of turning upwards.
If it is able to cross over $20.55 with good volume and closed above this price then it may form the reversal pattern and most likely may goes back to $21.40.
(Trade base on your own decision)

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