Shares & Derivatives
Is UOB at $27.86 a good BUY?
By Financial Stewardship  •  June 19, 2023
Singaporeans would be very familiar with UOB, though it is the smallest of the 3 local banks in terms of market capitalisation. Controlled by the Wee family over the past few decades, this bank has grown over the years to be a strong and reputatable regional bank The long term share price has also increased steadily from $10 during the Global Financial Crisis of 2009, peaking at $33 in 2022. Long term moving averages are sloping upwards, signalling the long term trend and growth should continue in the more years to come In the short term though, we see the yellow MA10 line turning downwards, as price weaknesses continue to plague UOB and similarly with other two local banks of DBS and OCBC. We see the price of UOB trying to find support in the region of around $28, with another stronger and well tested support around $26 With UOB dividend of $0.75 in April 2023, and probably another dividend of $0.75 in August...
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By Financial Stewardship

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