UOB has probably completed the Dead Cat Bounce and is currently trading in a Down Trend Channel. The long term trend remains down. Don’t go against the trend and invest with cautious!
Original post from My Stocks Investing Journey.
UOB is currently trading within a Falling Wedge and have no sign of bottoming or reversal yet. As UOB is still in the bearish down trend, a more appropriate strategy for long term investors is to do hedging by short selling UOB.
Learn how to Hedge your Dividend Stocks Portfolio or Profit from Short Selling Singapore Stocks here.
UOB is showing a Shooting Star, a potential reversal candlestick pattern, at $20 resistance. This $20 is a very reliable support turned resistance since 2009. Respect this $20 resistance!
