UOB Bank: Rejected at $20 Resistance

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UOB rejected at $20.00 resistance with Bearish Engulfing pattern with a spike in trading volume. Is it a first sign of trend reversal? Anyway, I have shorted the stock using CFD base on my trading strategy “Buy Near Support, Sell Near Resistance” when I see a reversal candlestick pattern with a very tight stop loss just slightly above $20.00 resistance. All other technical indicators have not shown any bearish signals yet.

On a bigger scale, UOB is showing a Huge Ascending Triangle with a tough pyschological resistance at $20.00. 200D SMA support is at about $19.15.

Previous analysis on UOB Bank.


Key Statistics for UOB

Current P/E Ratio (ttm) 11.5109
Estimated P/E(12/2013) 11.6775
Relative P/E vs. FSSTI 1.0717
Earnings Per Share (SGD) (ttm) 1.7175
Est. EPS (SGD) (12/2013) 1.6930
Est. PEG Ratio 1.3011
Market Cap (M SGD) 31,134.76
Shares Outstanding (M) 1,574.85
30 Day Average Volume 2,327,567
Price/Book (mrq) 1.3577
Price/Sale (ttm) 3.6342
Dividend Indicated Gross Yield 3.03%
Cash Dividend (SGD) 0.1000
Last Dividend 05/06/2013
5 Year Dividend Growth -5.09%
Next Earnings Announcement 05/09/2013
Continue ReadingUOB Bank: Rejected at $20 Resistance

Bank of America (BAC): Breakout from Ascending Triangle

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Technical Analysis on Bank of America (BAC)
  • BAC broke out from Ascending Triangle at $10.00 and heading towards the breakout target price of $12.00 (also 161.8% FR)
  • RSI = 75 overbought region.
  • Currently BAC has reversed to uptrend (above 20D, 50D and 200D SMA).
  • Too late to chase now. Wait for the retracement back to $10.00 to test the resistance turned support for a better entry point.

Key Statistics for BAC

Current P/E Ratio (ttm) 18.5082
Estimated P/E(12/2012) 19.6348
Relative P/E vs. SPX 1.2722
Earnings Per Share (USD) (ttm) 0.6100
Est. EPS (USD) (12/2012) 0.5750
Est. PEG Ratio 2.0668
Market Cap (M USD) 121,684.50
Shares Outstanding (M) 10,778.08
30 Day Average Volume 159,106,896
Price/Book (mrq) 0.5535
Price/Sale (ttm) 1.1136
Dividend Indicated Gross Yield 0.35%
Cash Dividend (USD) 0.0100
Last Dividend 12/05/2012
5 Year Dividend Growth -55.91%
Next Earnings Announcement 01/17/2013
Continue ReadingBank of America (BAC): Breakout from Ascending Triangle