Stock with Momentum: United Overseas Bank

June 26, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we analyse United Overseas Bank Ltd (SGX: U11). Despite being in a consolidative range, its recent price action indicates strong buying momentum.

Below are some key highlights from the technical report:

United Overseas Bank Ltd

Market Position: UOB is designated as a ‘Technical Buy’. The stock has been in an uptrend for over eight months and is suggesting a bullish continuation.

Entry Prices and Support Levels: Recommended entry points are at S$30.90, S$30.10, and S$29.37, with support levels established at S$29.67 and S$28.40.

Stop Loss and Resistance Levels: To safeguard investments, a stop loss has been advised at S$29.10. The resistance levels identified are at S$31.21 and S$32.04.

Target Prices: Target prices are set at S$32.06, S33.10, S$33.50, and S$33.70.

Company Overview: UOB offers a broad range of financial services, including personal financial services, wealth management, private banking, and commercial and corporate banking.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock momentum.

Our goal is straightforward: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.

Please refer to the attached report for the disclaimer.