Bearish Flag for UOB?

$UNITED OVERSEAS BANK LIMITED(U11.SI)$

Are you panicking over the drop post earnings despite stellar results? If you are, you probably FOMO-ed and bought in at the peak, and probably gambled on earnings. THAT IS SUCH A BIG NO when it comes to trading.

Technical Analysis Wise:

UOB is forming a bearish flag pattern. My target price to enter $28-28.10. However if it breaks below, I will reconsider as that would highlight a further downside.

Nevertheless, I do see UOB's potential to rise to $30 by end of April. Ofc I could be wrong so DYODD.

UOB stellar results:

UOB’s net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income, based on its results released on Thursday (Feb 22).

Net profit for the three months ended Dec 31, 2023, stood at S$1.4 billion, compared with S$1.2 billion from the year-ago period. This included one-off expenses from the lender’s Citi integration costs.

Jiayou all, never stop learning, never stop growing. Happy TGIF! 🥰

Modified in.02-23

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If you are, you probably FOMO-ed and bought in at the peak, and probably gambled on earnings. THAT IS SUCH A BIG NO when it comes to trading.&nbsp;</p>\n<p>Technical Analysis Wise:</p>\n<p>UOB is forming a bearish flag pattern. My target price to enter $28-28.10. However if it breaks below, I will reconsider as that would highlight a further downside.&nbsp;</p>\n<p>Nevertheless, I do see UOB's potential to rise to $30 by end of April. Ofc I could be wrong so DYODD.&nbsp;</p>\n<p>UOB stellar results:&nbsp;</p>\n<p>UOB’s net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income, based on its results released on Thursday (Feb 22).</p>\n<p>Net profit for the three months ended Dec 31, 2023, stood at S$1.4 billion, compared with S$1.2 billion from the year-ago period. This included one-off expenses from the lender’s Citi integration costs.</p>\n<p>Jiayou all, never stop learning, never stop growing. 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However if it breaks below, I will reconsider as that would highlight a further downside.&nbsp;</p>\n<p>Nevertheless, I do see UOB's potential to rise to $30 by end of April. Ofc I could be wrong so DYODD.&nbsp;</p>\n<p>UOB stellar results:&nbsp;</p>\n<p>UOB’s net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income, based on its results released on Thursday (Feb 22).</p>\n<p>Net profit for the three months ended Dec 31, 2023, stood at S$1.4 billion, compared with S$1.2 billion from the year-ago period. This included one-off expenses from the lender’s Citi integration costs.</p>\n<p>Jiayou all, never stop learning, never stop growing. Happy TGIF! 🥰</p>\n<p>&nbsp;<br></p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/89364ca84e4d21f46bc2555b713063dd\" tg-width=\"720\" tg-height=\"374\"><span></span></p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c5db8728d7b86bce1b45bb3ce5c3d769\" tg-width=\"1170\" tg-height=\"1989\"><span></span></p></body></html>","text":"$UNITED OVERSEAS BANK LIMITED(U11.SI)$ Are you panicking over the drop post earnings despite stellar results? If you are, you probably FOMO-ed and bought in at the peak, and probably gambled on earnings. THAT IS SUCH A BIG NO when it comes to trading. Technical Analysis Wise: UOB is forming a bearish flag pattern. My target price to enter $28-28.10. However if it breaks below, I will reconsider as that would highlight a further downside. Nevertheless, I do see UOB's potential to rise to $30 by end of April. Ofc I could be wrong so DYODD. UOB stellar results: UOB’s net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income, based on its results released on Thursday (Feb 22). Net profit for the three months ended Dec 31, 2023, stood at S$1.4 billion, compared with S$1.2 billion from the year-ago period. This included one-off expenses from the lender’s Citi integration costs. Jiayou all, never stop learning, never stop growing. 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