UOB Bank: Finding Good Support

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UOB Bank is finding a Good Support at about $18.10. This is the 78.6% FR support and proven to be reliable for the past 4 occasions. Immediate resistance is at about $18.90 which is also the 50D MA and 200D MA resistance. If UOB is able to clear this resistance, this bank share has the chance to move up to $20.00, a tough and psychological resistance.

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Singapore Airlines (SIA): Landed Safely?

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Follow up on the previous analysis on “Singapore Airlines: Crash Landing Now!”, looks like SIA is rebounding from the 61.8% Fibonacci Retracement Support Level. However, the SIA plane is not fully stopped yet.

Things to watch out for the bearish trend to stop:

  • The current rebound from 61.8% Fibonacci Support will test the 20D MA resistance at about $14.00. Need to see whether SIA can clear this 20D MA resistance and stay above this level.
  • If SIA is unable to clear this 20D MA resistance, it is expected SIA to test the 61.8% Fibonacci Support again at about $13.20.  If this support is broken, the bearish trend will continue for Singapore Airlines.

Also note that the current oil price of US$104 per barrel have significant impacts on SIA future earnings.

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