MCT (technical)

MCT: UOBK has a technical Buy with TP $1.52, and protective stops placed at $1.375. THe stock could continue to trade at its prevailing trend after it rebounded from its rising 80 day EMA which acted as support. The stock has also closed above the previous immediate resistance at $1.435. Watch if the stock could retest its previous high (May '13) as the bullish MACD looks poised to form a bullish crossover and may trade above the centreline. Expected timeframe: 1 to 2 mths