UOB Bank is facing very tough resistance at $19.85. UOB was unable to break this resistance for past 9 occasions in 3 years. If UOB manages to break this level, the stock will face next important resistance of $20.00 (round number and psychological resistance) immediately. At current price, the downside risk is much higher than upside potential. UOB is showing a Hanging man at the resistance indicates potential reveral with uptrend support at about $19.20. Breaking this support will send UOB to $18.80 (200D SMA) followed by $18.12 (61.8% Fibonacci Retracement Level). I am waiting for the right moment to short the stock using CFD.
Key Statistics for UOB
| Current P/E Ratio (ttm) | 12.1782 |
|---|---|
| Estimated P/E(12/2012) | 11.9039 |
| Relative P/E vs. FSSTI | 1.0045 |
| Earnings Per Share (SGD) (ttm) | 1.6275 |
| Est. EPS (SGD) (12/2012) | 1.6650 |
| Est. PEG Ratio | 0.8785 |
| Market ... |
