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United Overseas Bank ST: the RSI is oversold
Trading Central | 2018-06-24 23:19:00

The configuration is negative.

Our pivot point stands at 27.2.

Our preference: the downside prevails as long as 27.2 is resistance.

Alternative scenario: the upside breakout of 27.2 would call for 28 and 28.5.

Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 27.87 and 28.68).

Supports and resistances:
28.5 **
28 *
27.2 **
26.8
26.31 (SGD-last)
25.2
24.7 **
24.2 *
23.7 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 06-25-2018 at 01:19 UTC+1
Price reference: 26.31 last known on 06-25-2018 at 01:19 UTC+1
Investment horizon: ST

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