United Overseas Bank (UOB) Technical Analysis:
10 August 2016, Wednesday, 9.59am Singapore Time
Attached above is the technicals for United Overseas Bank (UOB).
Triple selling absorption by the market (smart monies). Inverse-Shoulder-Head-Shoulder which is a re-accumulation of the bank stock. While most analysts are bearish of the Singapore banks due to loans exposure to the offshore oil and gas sector, I am calling for a highly bullish powerful rally in 2H-2016 and 2017 to come. This is called making a definite stand. No "If-then-else" market analysis statements. And no second guessing nor flip-flopping. Only a stand.
2H-2016 and 2017 worldwide rally will lift almost all stocks in stock markets all over the world.
DNA Technical Rating:
Bullish
Donovan,
ReplyDeleteThank you for all your work.
I am curious though. You are calling for a massive rally in 2H 16~17 and state you are very bullish commodities - yet you seem to highlight non-commodity stocks and have the opinion that buy-anything and make money. Surely the best way to benefit from the rally is to identify the out-performers, rather than 'throw 10 darts and 8 will hit the target'. That seems to suggest that everyone should just stay in the markets and that is all there is to it.
Interested in your comments...
Yes, I highlighted before that Bank stocks, Tech stocks and Commodity stocks will outperform. Healthcare stocks will do continue to do well. Property stocks and reits will underperform. The rest are in between. And yes, you are correct to say that what i meant by 'throw 10 darts and 8 will hit the target' actually suggests that everyone should have a few quality or outperforming stocks in the market to ride the rally and that is all there is to it. Usually the 2 stocks out of the 10 in the analogy that may not perform may be severely financially-distressed companies.
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