UOB just announced strong earnings today at high of 4.34 billion which is the actual news that was released. However, the stock price doesn't reflect and went simmer off a little. In fact, looking at the 5 minute chart as of now, the buyers weren't strong and there was a lack of that buying which the news could have resulted in the stock price. Normally, good earnings is good for the stock price but in this case, the stock price is quite dull without much activities. It could be the overall big market or it might be the stock is not ready yet. Whatever the case might be, from the chart wise, it doesn't show any signs of turning and hence I did not trade this counter even though the results was good. Moving on to the next.
Ronald K - Market Psychologist - A Stock Market Opportunist
