Stock with Momentum: United Overseas Bank Ltd

January 29, 2024

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

In this article, we focus on United Overseas Bank Ltd (SGX: U11) as the share price is continuing its upside after price action confirming the bottom is in.

Here is a look at some of the key highlights of the technical report.

  • Market Position: UOB is experiencing an uptrend, indicating a positive outlook for its stock price.
  • Entry Prices and Support Levels: The entry prices are S$28.50, S$28.00, and S$27.41. The first support level is at S$27.14, followed by a second support level at S$26.44.
  • Stop Loss and Resistance Levels: A stop loss is suggested at S$26.86. Resistance levels are at S$29.07 and S$30.71.
  • Target Prices: The target prices are set at S$29.74, S$30.72, S$31.50, and S$32.00.
  • Company Overview: UOB offers a wide range of financial services, including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management, and insurance.

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

Take advantage of the stock momentum

Our goal is simple: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re a seasoned investor or just starting out, our analysis is designed to help you navigate the market with confidence.

Disclaimer in the report attached

Billy Toh

Billy is deeply committed to making investment accessible and understandable to everyone, a principle that drives his engagement with the capital markets and his long-term investment strategies. He is currently the Head of Content & Investment Lead for Prosperus and a SGX Academy Trainer. His extensive experience spans roles as an economist at RHB Investment Bank, focusing on the Thailand and Philippines markets, and as a financial journalist at The Edge Malaysia. Additionally, his background includes valuable time spent in an asset management firm. Outside of finance, Billy enjoys meaningful conversations over coffee, keeps fit as a fitness enthusiast, and has a keen interest in technology.

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