UOB

UOB: stock is oversold based on the stochastics and MACD indicators, but is starting to reverse upward, possibly signalling the start of a turnaround. Share price has also bounced nicely off the $22.50 support. Watch for a break of the $23 resistance (around the 50day MA), rise in RSI above the neutral 50 level, and emergence of the stochastics and MACD from oversold levels, as further confirmatory signals for a bullish recovery. Near term objective at $23.50 (around the 14 day MA) .