Technical Pulse: UOL Group Ltd January 13, 2020 446


UOL Group (SGX: U14) bullish sentiment will continue based on the technicals below:

  1. The strong bullish trend has been demonstrated by a series of higher highs and higher lows and the trendline have yet to be broken.
  2. Bullish pennant formation indicates that there will be a bullish breakout rally. Another point to note is that the pennant is above the 22 SMA as well.
  3. Candlestick price action shows that the dark cloud cover formation had failed by the preceding bullish marubozu candlestick pattern.
  4. Strong bullish rejection above the support level at 8.34.
  5. The large cluster of green volume bar indicates that the price and volume are greater than 14 periods ago, hence the bullish pressure is still strong.


*Timeline of the trade should be between 1-3 weeks from the date issued.



Blue dotted line = 50 Periods Moving Average

Green dotted line = 22 Periods Moving Average


Green volume bar = Shows that price and volume is greater than the past 14 periods

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