Entry - 19.8-20.0
Stop - 19.3
Target - 21.78
UOB has been in trading range
since May 2013, the stock close near the low of the range setting up the possibility of a long
entry between 19.8 and 20.0. while its 200 daily moving average is at 20.0, which could support a major support. If the stock reverses off this level while the
broad market regains its bullish footing, there wouldn't be much in the way of
technical resistance to stop price from returning to prior highs. With a stop
placed 1.5X one daily average true range measure below the entry range, this
setup has an approximate reward to risk ratio of 3.56 to 1.00.
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