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Straits Times 3,382.38 +41.08 +1.23%
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United Overseas Bank ST: target 22.8
Trading Central | 2017-08-16 00:53:00

Alternative scenario: the upside breakout of 24.8 would call for 25.5 and 25.9.

Our pivot point stands at 24.8.

Our preference: target 22.8.

Alternative scenario: the upside breakout of 24.8 would call for 25.5 and 25.9.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day MA (24.17) but above its 50 day MA (23.63). United Overseas Bank is currently trading near its 52 week high reached at 24.6 on 27/07/17.

Supports and resistances:
25.9 **
25.5 *
24.8 **
24.6
23.96 (SGD-last)
23.2
22.8 **
22.4 *
22 **

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