UOB - 17 Feb 2025

Stock Analysis: UOB (U11 - SGX)

1. Trend Analysis:

• Uptrend Confirmation: The market is in a strong uptrend, with a series of higher highs and higher lows.
• Recent Higher Highs & Lows:
  • Higher highs: 37.08, 37.42, 37.94, 38.61.
  • Higher lows: 36.46, 35.65, 33.38.
• Trend Strength & Weakness:
  • The trend shows consistent higher closes.
  • No significant counter-trend rejection observed.
  • Some overlapping bars in small consolidations, but trend resumes higher.

2. Key Price Action Signals:

• Strong Trend Bars:
  • The recent breakout above 38.00 has a strong bullish trend bar.
  • Multiple trend bars have follow-through, confirming strength.
• Reversal Bars & Key Levels:
  • No major bearish engulfing bars or strong pin bars indicating rejection.
  • Minor pullbacks are being bought up quickly.
• Inside Bars & Doji Patterns:
  • Some inside bars near 37.42, signaling brief consolidation before continuation.
  • No major doji formations indicating indecision.

3. Support & Resistance Levels:

• Major Resistance:
  • Previous highs at 37.42, 37.94, which are now breached.
  • 38.61 is the new high, with potential psychological resistance at 39.00.
• Major Support:
  • 36.46, 35.65 serve as the last confirmed higher lows.
  • A break below 35.65 could shift momentum.

4. Breakout & Pullback Analysis:

• Breakout Strength:
  • The breakout past 37.94-38.00 is strong, supported by volume.
  • No major long upper wicks, confirming buying pressure.
• Pullback Characteristics:
  • Recent retracements have been shallow, indicating strong demand.
  • No deep pullbacks signaling a shift in sentiment.

5. Market Context & Trading Bias:

• Trend Status: Strong bullish trend in place.
• Signs of Trend Change?
  • No significant reversal signals yet.
  • Watching for bearish engulfing candles or failure to hold new highs.
• Trader Psychology:
  • Greed & bullish sentiment dominate, as price keeps pushing new highs.
  • A pullback to 37.00-37.50 could be a buying opportunity if support holds.

Conclusion:

UOB (U11) is in a strong uptrend with momentum intact. The breakout past 38.00 is confirmed by strong bullish candles and follow-through. Watch for potential minor pullbacks as buying opportunities, but monitor bearish reversals near 38.50-39.00 for signs of exhaustion.

Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.

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