Friday, December 29, 2017

UOB - Beautiful Turnaround

UOB looks ripe for a shorting opportunity. However I think it could be a year end window dressing or an early new year rebound which gave UOB a boost to trend up in prices again. From the daily chart, it obviously looked like the stock has met the selling zone with 2 round of profit taking but some how the stock rebounded with speed and volume and refused to tank. To long UOB is also a risk because it's near an all time high and I will patiently wait for another opportunity to short this counter again. Maybe next year 2018 is a better timing. Here, I wish everyone a prosperous and a Happy New Year 2018.

Ronald K - Market Psychologist - A Stock Market Opportunist