Wednesday, February 22, 2017

UOB: Heading higher away from consolidation phase as predicted.... price 21.63

From previous call, we have indeed seen UOB pushed higher past the 21.35 resistance and even crossing above the 21.50 temp resistance today.

Finally it is showing some signs of ending it sideways consolidation.

Looking at the chart drawn below with Arrows on Monday Morning, good feeling... 

Seems like playing out nicely for now...

Can it hit 22.00 by end of this week? Any maybe even head towards 23.50?

Let’s see... lending some support to the market for now. 


Recent Email:

Sent: Monday, February 20, 2017 10:34 AM
Subject: ***** UOB: May attempt a move higher, price 21.29
UOB has been consolidating for more than 2 months below the key resistance level at 21.30 – 21.35. We are seeing some actions again with it nearing this level where it may attempt to push above. Uptrend looks intact with 21.00 as the near term support for now. Any clear price action above 21.35 can see more upside with it poised to 22.00 then 22.10

For illustration purpose only

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