U11 trade ideas
UOB Singapore Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
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UOB is testing support, potential bounce Prices are testing support in line with our ascending trend line where we could see a bounce here
United Overseas Bank Limited (UOVEY)United Overseas Bank Limited (UOVEY) will continue to go up and is expected to report high earnings in May 7th
UOB is facing bullish pressure, potential for further upsidePrices are facing bullish pressure where we could see a further upside above this level.
UOB could see further downside before it reaches supportPrices could push lower before it reaches our buy entry, in line with our graphical support area, 78.6% fibonacci extension and 78.6%, 127.2% Fibonacci retracement where we could see a bounce above this level.
UOB is approaching resistance, potential reversal Price is approaching resistance in line with our graphical resistance area and 50% fibonacci retracement where we could see a further drop below this level.
UOB is approaching resistance, potential reversalPrice is approaching our first resistance in line with our horizontal overlap resistance, 61.8% fibonacci retracement and 100% fibonacci extension where we could see a reversal below this level to our first support target.
UOB is facing bearish pressure, potential reversal Price is facing bearish pressure from our first resistance where we could see a reversal below this level. Ichimoku cloud is showing signs of bearish pressure as well.
UOB is approaching support, potential bounce Price is approaching our first support in line with our 50% retracement, 100% extension and horizontal pullback support where we could see a bounce above this level to our take profit target.
Key levels to watch on UOBPrice is approaching a support level and a break above our descending trend line would provide room for a further upside. These are the key levels for me now.
UOB LONG Breaking out $19.50 Have been seeing it consolidating bet $19 - $19.50 for almost a month.
Breaking out $19.50 should see it start trading within the range of $19.50 - $20
UOB testing support, potential bouncePrice broke the descending trend line, a break that we have been waiting for, we could be seeing a further bounce above this level.
UOB bounced off key support, wait for break above trend linePrice bounced off a key support level and a break above our descending trend line could provide the bullish confirmation. I will only consider a long position after this trend line has been broken.
UOB approaching a key support level Price is approaching a key support level and a break above our descending trend line could see room for further upside.
UOB approaching support, potential bounce Price is approaching a key support level where we could see a bounce here
UOB is testing resistancePrice is testing our first resistance in line with our horizontal overlap resistance where we could see a reversal below this level.
UOB Short PositionUOB Q2 Profits and Dividends Cut. Short position taken
M: Downtrend
A: Resistance
E: Bearish outlook and candle stick pattern
E: SL 19.70 RR 1.50
Entry Price: 19.45
UOB testing support Price is facing bullish pressure and a test of our buy entry in line with our 61.8% retracement could see a further bounce from here.
UOB - Price is reaching resistance, potential reversalHere's what I see on UOB, price is reaching resistance where we could see a reversal from our sell entry, in line with our trend line, 38.2% retracement and 78.6% extension where we could see a reversal here. Cheers!
