UOB: A Bullish Exit signal finally seen, and may be heading back to support, price 20.61

Following up from  an update for the 3 banks, finally we have seen an Exit signal for UOB last week from my system (See below).

As mentioned, UOB has traded upwards a little more after the previosu emaila and that’s when profit taking started to occur. Has started to trade lower since and now looks set to test the key support at 20.50.

Note that any breakdown below on a clear price action can pave the way back to 20.00 where it came up from last month.

So we have had Exit Signals for all the Bullish moves from all the banks. We are beginning to see price cross below the 20 day MA already for UOB which can see some short term weakness, cautious.

Congrats to PTI graduates who manage to ride the 3 banks fully last month and got out with the exit signals recently… Let’s see what happens next and if 20.50 holds….

Will be checking to see if any entries again, either way we ride….  J

For illustration purpose only

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Recent Emails:

Sent: Tuesday, December 13, 2016 10:03 AM
Subject: SG Banks: UOB still no exit signal.... upside can still continue above 21.10. Price 21.12

From previous call early last week where the banks were still rallying, we indeed saw some more strength before profit taking finally happen. Of the 3 banks, just to share that we managed to see an exit signal for both DBS and OCBC. But there are NO EXITS signal for UOB yet. And today we have see a further push above the 21.10 recent high. We can expect more strength above the level towards 21.50 then 22.00 next. Will be looking to see when the exit signal will come for UOB, PTI graduates can check, thanks. Raise stop loss to protect nevertheless J

Sent: Tuesday, December 06, 2016 10:20 AM
Subject: ********** SG Banks: DBS, OCBC, UOB - can still be Bullish, NO Exits on System yet for all.... DBS the best performing signal.... see what i mean

 For illustration purpose only