Thursday, December 31, 2015


UOB - 1st January 2016

UOB seems to have bounced off from the low of $18.80 on 14th Dec 2015 and had managed to rise higher to close at $19.61 on 31st Dec 15.
The current price of $19.61 is staying above both 14SMA & 25SMA which is generally positive.
From TA point of view it has reverse the downtrend and is slowly moving up.
Both MACD & RSI are also rising which may provide further indication to drive the share price higher.

Breaking out of $19.80 with good volume that may provide further catalyst to propel the share price higher toward $20.00 then $20.50 for a short term uptrend mode.

If price dropped below $19.40 then perhaps this uptrend mode may not follow-through.

Entry price - $19.80
Cut (Stop) Loss - $19.40
Target price - $20 - $20.50.

(Trade/invest base on your own decision)

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