Singapore Stock Watch 20 Jan 2017

photo-1441171205449-f600f908a9f3-min

20/1/17

UOL

  • Ever since stock broke out on 10 Jan and reached a high of $6.38, it has since retraced to form another smaller round consolidation pattern
  • Support can be found just below the previous resistance level of $6.28
  • Further up movement above $6.38 with above average volume (>1m) will indicate a higher probability of uptrend resumption
  • Continuation Entry @ $6.39 with Stop @ $6.22

United Engineers

  • Stock currently forming a tight flat base just below its recent high of $2.80
  • A breakout above this high with strong volume (>2m) will give a good signal that the stock can trend higher from this base
  • Entry @ $2.81 with Stop @ $2.71