U11 trade ideas
UOB 50 - 200 SMA Death Cross?www.tradingview.com
UOB Weekly Chart:
1. 50 Day SMA / 200 Day SMA death cross imminent?
2. Further decrease in Chaikin Money Flow from -0.20 to -0.28 from May to June
3. Thin volume on 2nd June breakout above $20
4. Consecutive gravestone dojis on 3rd and 4th weeks of March. Although shadow length is rather small.
SGX UOB Shortstock is in a side-way channel below mid point. short-term potential to short with entry @ 19.72 and stop-loss @ 19.99 with and profit-taking @ 19.24. Earnings report expected to be lower than normal on 6 May. If better than expected, to recover and if worst then expected, to drop.
UOB (U11) - Key levels to BUYHey everyone, here's my analysis on U11:
Summary
Price could drop lower to zone 1 between 13.18 - 14.24 before a bounce.
Action:
Buy Limit: 13.18 - 14.24
Analysis:
3 of the green zones highlighted above are support zones where we could see a bounce in price. Currently, given the situation that we are in with the Covid-19 outbreak yet to reach its peak, I lean towards seeing a further drop in price from its current level to zone 1 at 13.18 - 14.24 before a bounce, as illustrated by the yellow dotted lines. If price breaks below the key zone at 13.18 - 14.24, it is likely to test zone 2.
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UOB Buy at $17.96, SL at $17.12 with TP1 $19.96 and TP2 > $25 UOB is at 12M support and showed a strong reversal pattern at W bullish engulfing pattern.
UOB had a "demand' recovery after gap downUOB rejected the demand zone right after market open after Lunar new year holiday in Singapore. The strong demand may push prices further to fill the gap
SG UOB with a suspected H-S-T pattern, decline target $21.3It seems like SG UOB has been charting out a H-S-T patterns over the past 1 year.
And similar pattern can be found in another SG bank stock - DBS.
What makes UOB's chart interest is its complex variation from the classic H-S-T pattern. Everything in this construct came "double". It two double-headed S and arguably a double-headed H. Even the retraction from the breakout line also happened twice (one in end nov early Dec, and the other one in last week).
If today's decline marked the end of the rebound, it' possible that the double-headed retraction was also done. As the next stage, the price might plunge through the breakout line again, and hit the minimum decline target i.e. $21.3.
Let this analysis be tested by time!
P.S. I am interested to see if it ends up with a double-tap at $21.3 range.
UOBDuring this correction, volumes were low meaning the stocks were passed from the weak mental strength herd to the hands of the smart monies. In the comparison analysis, UOB outperformed the benchmark financial index, refusing any whipsaw along the way.
UOB (U11:SGX) Set to test Lower ChannelU11 failure to close the gap indicate strong selling within price action. U11 set to retest lower channel at S$27.65. Failure to hold will see stock price mark down towards fibo downward project of 4.236%. MACD momentum is bearish.
UOB - Short term downside potentialFor those interested in Singapore equities market, here's one potential setup.
Price has been rallying since the low in 2016 @ 16.77 to the recent high in 2017 @ 24.59. Price has developed a complete 5 waves structure, and according to Elliott Wave principle, we are now expecting a potential 3 waves retracement.
This gives us a potential short term trade targeting 22.66 - 22.94 area.
Disclaimer - do your own due diligence before shorting this stock.
