United Overseas Bank Ltd (SGX:U11) Hiring “Virtual Employees”

United Overseas Bank Ltd (SGX:U11) Hiring “Virtual Employees”

United Overseas Bank Ltd (SGX:U11) Hiring “Virtual Employees”

  • United Overseas Bank (UOB) is employing two robot-like “virtual employees” as they are termed – to tackle tasks its human employees find too boring.
  • The bank said yesterday that the “robots”, Amy and Eve, are slashing the time taken on such repetitive and time-consuming jobs as data processing.
  • It is understood that Amy and Eve are not physical robots, but programmes using Robotics Process Automation software that execute “the more mundane data entry tasks”.
  • They were assigned to teams supporting the wholesale banking and retail businesses about three weeks ago.
  • A UOB spokesman said: “The speed and accuracy at which robots such as Amy and Eve can process such transactions enables us to respond faster to our customers in the long run. The introduction of robots into our workforce also enables us to improve our process through tech while maintaining a human touch.”

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 moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 24.26.

The projected upper bound is: 26.48.

The projected lower bound is: 25.21.

The projected closing price is: 25.84.

UOB LTD closed down -0.210 at 25.790. Volume was 36% below average (neutral) and Bollinger Bands were 32% wider than normal.

Open         High          Low           Close         Volume
25.990       25.990      25.720      25.790      1,131,000

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

Moving Averages: 10-period        50-period        200-period
Close:                       25.42               24.48               23.25
Volatility:                20                     17                      18
Volume:                   1,616,860        1,689,090       2,056,005

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.

UOB LTD is currently 10.9% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 41 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 88.2166. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 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 64.40. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 100. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 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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