United Overseas Bank Limited Stock Forecast
United Overseas Bank Limited stock price ended at $45.04 on Friday, after gaining 0.469%.
(Updated on May 17, 2024)
The United Overseas Bank Limited stock price gained 0.469% on the last trading day (Friday, 17th May 2024), rising from $44.83 to $45.04. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.579% from a day low at $44.87 to a day high of $45.13. The price has fallen in 6 of the last 10 days and is down by -1.21% for this period. Volume fell on the last day by -9 thousand shares and in total, 15 thousand shares were bought and sold for approximately $691.14 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.08% during the next 3 months and, with a 90% probability hold a price between $47.58 and $49.87 at the end of this 3-month period.
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UOVEY Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The United Overseas Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $44.72 and $44.30. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for United Overseas Bank Limited stock
United Overseas Bank Limited finds support from accumulated volume at $43.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.260 between high and low, or 0.579%. For the last week the stock has had daily average volatility of 1.09%
Our recommended stop-loss: $43.44 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (UOVEY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect United Overseas Bank Limited to open at $45.01, and during the day (based on 14 day Average True Range), to move between $44.23 and $45.85, which gives a possible trading interval of +/-$0.81 (+/-1.79%) up or down from last closing price. If United Overseas Bank Limited takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.11 (0.16%) than the support at $43.59 (3.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is United Overseas Bank Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for United Overseas Bank Limited stock to perform well in the short-term.
Current score: 3.234 Buy Candidate Unchanged
Predicted Opening Price for United Overseas Bank Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $45.01 ( 0.0592%) | $45.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UOVEY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.27 | 0.518 % | |
| R2 | 45.17 | 0.298 % | ||
| R1 | 45.11 | 0.161 % | ||
| Current price: | 45.04 | |||
| Support | S1 | 44.91 | -0.280 % | |
| S2 | 44.85 | -0.416 % | ||
| S3 | 44.75 | -0.636 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.73 | 1.53 % | |
| R2 | 45.23 | 0.422 % | ||
| R1 | 45.11 | 0.155 % | ||
| Current price | 45.04 | |||
| Support | S1 | 43.59 | -3.22% | |
| S2 | 42.82 | -4.93% | ||
| S3 | 42.70 | -5.20% |
UOVEY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Apr 25, 2024 | May 20, 2024 | $1.27 | 2.81% |
| 2 | Jul 27, 2023 | Aug 04, 2023 | Aug 28, 2023 | $1.28 | 3.07% |
| 3 | Jul 27, 2023 | Apr 28, 2023 | May 22, 2023 | $1.13 | 2.75% |
| 4 | Aug 08, 2022 | Aug 08, 2022 | Sep 01, 2022 | $0.87 | 2.24% |
| 5 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | $0.88 | 2.02% |
FAQ
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