UOB (technical)

UOB: Trading Central says the stock remains positively oriented, having strongly bounced off both a support around $18.60 and a medium term ascending trend line in place since Dec '11. The 20 day & 50 day moving averages remain bullish and should contain any downside move. Also , RSI remains firmly above its neutral area and continues to head upwards. If share price holds above $19, the house anticipates a new up move to $20 and $20.40 in extension.