Tuesday, August 7, 2018

UOL - Backed by UOB

The banks moved furiously today especially OCBC and DBS since both reported good results. DBS was a little lagging but overall it still moved. The move was one of the most powerful in recent months which did not happened since January this year. Nobody can predict this was going to happen but then the good thing was we can picked subsidiary stocks and I found UOL to be pretty interesting.


Since Capitaland and Citydev moved today, I realized UOL had the power to follow the property stocks movement and hence started watching it at $7.11. After lunch, the big move came and buyers were furious. Before the run, I saw the buy/sell Q flipped from 7.12 to 7.13 where buyers were willing to take high price with healthy volume while the rest were history. The trend also changed in the minute chart and the stock just closed strong. Need to continue to monitor this counter for now.

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Ronald K - Market Psychologist - A Stock Market Opportunist