$UNITED OVERSEAS BANK LIMITED(

2022-06-01

$UNITED OVERSEAS BANK LIMITED(U11.SI)$Since my last post (https://ttm.financial/m/post/9028872200), UOB is still entrenched below the downtrend line. It was well supported and closed near the high when funds did their rebalancing on 31 May 2022. However there was a bearish engulfing candle today on 1 Jun 2022 that took out yesterday's low. Trading on 2 Jun will provide confirmation whether there is follow through bearish price action. If so, the $28 support is likely to be tested these 2 weeks.

However, value investors may note that the revalued NAV of UOB is around $27.16 based on FY2021 results. Therefore, it may be a buying opportunity if prices approach book value and having the price pull back around 15%.

💰 Stocks to watch today?(25 Nov)

1. What news/movements are worth noting in the market today? Any stocks to watch? 2. What trading opportunities are there? Do you have any plans? 🎁 Make a post here, everyone stands a chance to win Tiger coins!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

潘小明
2022-06-01
潘小明
Ocbc cheaper
- hydros:
  definitely. uob bought Citigroup 's assets which won lots of of praises from analysts, so considered to have higher growth.
Tracccy
2022-06-01
Tracccy
thanks for sharing more bank stocks. UOB is a good pick
CynthiaVogt
2022-06-01
CynthiaVogt
Waiting for the price pull back
mac0racle
2022-06-01
mac0racle
Now many stocks are at discounted price
chuash
2022-06-02
chuash
[Happy]
Reann
2022-06-02
Reann
nice 👍

Leave a comment

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