Singapore's UOL Group breaks resistance at S$7.7, may test S$8.12 - Technicals

UOL

17/04/2019 05:35

** Shares of UOL Group Ltd  UTOS.SI  gain as much as 4.71
pct and breaks above a resistance at S$7.7
    ** Resistance at S$7.7 is identified as the 50 pct Fibonacci
retracement level of the downtrend from Nov. 1, 2017 high to
Dec. 26, 2018 low https://tmsnrt.rs/2VGpAM6
    ** Breakout suggests that in the near term stock may test
the next resistance at S$8.122, the 61.8 pct retracement level
    ** Trend intensity (TI) indicator rises three points to 36,
suggests prices are trending upwards, MACD is positive and above
its signal line
    ** Stock forms a golden cross where in it's 50-day
exponential moving average(EMA) cuts above its 200-day EMA, a
bullish sign 
    ** Stock up over 20 pct this year as of last close,
outperforming the broader index's  .STI  8.6 pct gains in the
same period
      

 (Reporting by Gaurav Dogra)
 ((gaurav.dogra@thomsonreuters.com;))