Thursday, October 10, 2013

UOB at critical Support

UOB is currently sitting at the strong and critical support, I always suggest investor to look at good fundamental stocks when the whole market in extremely fear. Now that the FEAR is here hitting on the retail player, and the market (STI) is still not crashing. We should turn Greedy now with proper risk management.

Trade setup: Pivotal point, UOB stop dropping few days ago. Long at Price between $20.50-$20.60

Stoploss if break the trendline support/ break the pivotal point at $20.30. So $20.20 is a clear cut stoploss.

Timeframe: We should know whether we are right or wrong in next 10 trading day.