UOB Bank is facing very tough resistance at $19.85. UOB was unable to break this resistance for past 9 occasions in 3 years. If UOB manages to break this level, the stock will face next important resistance of $20.00 (round number and psychological resistance) immediately. At current price, the downside risk is much higher than upside potential. UOB is showing a Hanging man at the resistance indicates potential reveral with uptrend support at about $19.20. Breaking this support will send UOB to $18.80 (200D SMA) followed by $18.12 (61.8% Fibonacci Retracement Level). I am waiting for the right moment to short the stock using CFD.
Key Statistics for UOB
| Current P/E Ratio (ttm) | 12.1782 |
|---|---|
| Estimated P/E(12/2012) | 11.9039 |
| Relative P/E vs. FSSTI | 1.0045 |
| Earnings Per Share (SGD) (ttm) | 1.6275 |
| Est. EPS (SGD) (12/2012) | 1.6650 |
| Est. PEG Ratio | 0.8785 |
| Market Cap (M SGD) | 31,211.52 |
| Shares Outstanding (M) | 1,574.75 |
| 30 Day Average Volume | 2,226,200 |
| Price/Book (mrq) | 1.4117 |
| Price/Sale (ttm) | 3.7446 |
| Dividend Indicated Gross Yield | 3.03% |
| Cash Dividend (SGD) | 0.2000 |
| Last Dividend | 08/30/2012 |
| 5 Year Dividend Growth | -5.09% |
| Next Earnings Announcement | 02/22/2013 |
DBS is trading near to resistance as well. I had sold my DBS at $14.93: http://tradingeducationprogram.org/2012/12/19/dbs-group-holdings-19-44-4-dividiend-yield/.
STI Index is too high now. Singapore banks are members of STI Index. If STI Index falls, the fall will be hard, Singapore banks will be much lower if that happens.
Great to find a great website like yours today. Happy New Year.
Happy New Year, BL!
Looks like we are seeing the same thing.
If more traders seeing the same pattern, STI is very near to a correction.
https://mystocksinvesting.com/singapore-stocks/dbs-bank/dbs-bank-rejected-at-15-00-resistance/