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UOB is the preferred banking stock of our banking analyst Lynn but I like OCBC better mainly because of the absolute lower price. The other stock that is also not in my stock pick list but which has benefitted from the recent rally is SGX. I have below some technicals on both stocks which are seeing a nice correction to their over-bought position. Buying momentum has also turned down. I would welcome more TA savy comments from others on these two stocks which according to my basic TA skills could see another 10% or more downside.
UOB - charts seems to suggest two support levels at S$14.00 and S$11.50 Read more...[caption id="attachment_1673" align="alignright" width="150" caption="Charts"][/caption]
UOB is the preferred banking stock of our banking analyst Lynn but I like OCBC better mainly because of the absolute lower price. The other stock that is also not in my stock pick list but which has benefitted from the recent rally is SGX. I have below some technicals on both stocks which are seeing a nice correction to their over-bought position. Buying momentum has also turned down. I would welcome more TA savy comments from others on these two stocks which according to my basic TA skills could see another 10% or more downside.
UOB - charts seems to suggest two support levels at S$14.00 and S$11.50 Read more...
[/caption]
UOB is the preferred banking stock of our banking analyst Lynn but I like OCBC better mainly because of the absolute lower price. The other stock that is also not in my stock pick list but which has benefitted from the recent rally is SGX. I have below some technicals on both stocks which are seeing a nice correction to their over-bought position. Buying momentum has also turned down. I would welcome more TA savy comments from others on these two stocks which according to my basic TA skills could see another 10% or more downside.
UOB - charts seems to suggest two support levels at S$14.00 and S$11.50 Read more...
