Singapore Stock Market News
United Engineers (U04) - Bullish divergence
StockFanatic
Publish date: Tue, 12 Jun 2012, 10:10 AM
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Technical Analysis
* After the recent market sell-off, United Engineers has retreated and tested the fib-support of 38.2% at 2.10 and trend line support (Red line as indicated above) several times. Stock is well supported as shown above.
* Short-term bullish on United Engineer as stock has shown bullish divergence in its technical indicators; MACD, Stochastic and RSI.
* Suggest to accumulate on weakness as stock was sell off with very low volume. Next support seen at 2.00.
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| Daily Chart |
* Short-term bullish on United Engineer as stock has shown bullish divergence in its technical indicators; MACD, Stochastic and RSI.
* Suggest to accumulate on weakness as stock was sell off with very low volume. Next support seen at 2.00.
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