United Overseas Bank Ltd (SGX:U11) Trading Outlook

United Overseas Bank Ltd (SGX:U11) Trading Outlook

United Overseas Bank Ltd (SGX:U11) Trading Outlook

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 24.85.

The projected upper bound is: 27.54.

The projected lower bound is: 26.16.

The projected closing price is: 26.85.

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.

UOB LTD closed up 0.150 at 26.790. Volume was 62% above average (neutral) and Bollinger Bands were 58% wider than normal.

Open         High          Low          Close        Volume
26.360      26.790      26.360      26.790     2,995,900

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

Moving Averages: 10-period       50-period        200-period
Close:                       26.26              25.13                23.55
Volatility:                23                    17                      18
Volume:                  2,926,969       1,884,286       2,057,124

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 is currently 13.8% 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 moderate flows of volume into UOBH.SI (mildly bullish). Our trend forecasting oscillators are currently bullish on UOBH.SI and have had this outlook for the last 53 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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 98.8165. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 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 67.31. 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 7 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 113.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 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 buy 0 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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