United Overseas Bank Ltd (SGX:U11) HEFFX Highlights

United Overseas Bank Ltd (SGX:U11) HEFFX Highlights

United Overseas Bank Ltd (SGX:U11) HEFFX Highlights

  • Losses in the local banks again weighed down on the Singapore market, which lost ground for the second straight day.
  • The benchmark Straits Times Index (STI) shed 15.98 points, or 0.48 per cent, to 3,278.95, while overallon bourse came up to just 942 million shares worth S$1.1 billion.
  • DBS Group Holdings was the heaviest hit among the three as it sank 1.9 per cent or 39 cents to S$20.39. United Overseas Bank lost 1 per cent or 24 cents to S$23.72 while OCBC Bank slid 0.7 per cent or eight cents to S$11.13.

United Overseas Bank Limited is a bank in Asia. The Company provides financial services across the globe through its segments, which include Group Retail (GR), Group Wholesale Banking (GWB), Global Markets (GM) and Others. GR segment covers personal and small enterprise customers. GWB encompasses corporate and institutional client segments, which include medium and large enterprises, local corporations, multi-national corporations, financial institutions, government-linked entities, financial sponsors and property funds. GM provides a suite of treasury products and services across multi-asset classes, which include foreign exchange, interest rate, credit, commodities, equities and structured investment products to help customers manage market risks and volatility. GM also engages in market making activities and management of funding and liquidity. Others segment includes corporate support functions and other activities, which consists of property, insurance and investment management.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 24.47.

The projected lower bound is: 23.01.

The projected closing price is: 23.74.

UOB LTD closed down -0.230 at 23.730. Volume was 6% above average (neutral) and Bollinger Bands were 35% narrower than normal.

Open      High     Low     Close      Volume
23.900      23.900      23.510      23.730       2,300,200

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:      24.17      23.64      21.86
Volatility:      15      20      17
Volume:      2,060,222      1,982,904     2,445,849

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

UOB LTD gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
UOB LTD is currently 8.6% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of UOBH.SI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on UOBH.SI and have had this outlook for the last 26 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 13.3620. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 12 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.30. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 64 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -259.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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