Bearish Flag for UOB?
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! 🥰
Modify on 2024-02-23 11:19
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