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United Overseas Bank ST: below its lower Bollinger band
Trading Central | 2018-06-13 23:29:00

Alternative scenario: the upside breakout of 28.5 would call for 29.3 and 29.8.

Our pivot point is at 28.5.

Our preference: the downside prevails as long as 28.5 is resistance.

Alternative scenario: above 28.5, look for 29.3 and 29.8.

Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 28.74 and 28.73). Finally, United Overseas Bank is trading below its lower daily Bollinger band (standing at 27.25).

Supports and resistances:
29.8 **
29.3 *
28.5 **
28.1
27.1 (SGD-last)
26.1
25.6 **
25.1 *
24.6 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 06-14-2018 at 01:29 UTC+1
Price reference: 27.10 last known on 06-14-2018 at 01:29 UTC+1
Investment horizon: ST

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