United Overseas Bank Limited Stock Forecast
United Overseas Bank Limited stock price up 0.641% on Friday
(Updated on May 31, 2024)
The United Overseas Bank Limited stock price gained 0.641% on the last trading day (Friday, 31st May 2024), rising from $45.21 to $45.50. During the last trading day the stock fluctuated 0.457% from a day low at $45.30 to a day high of $45.51. The price has been going up and down for this period, and there has been a 1.49% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 385 more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $1.03 million.
The stock lies in the middle of a 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 6.82% during the next 3 months and, with a 90% probability hold a price between $47.37 and $50.19 at the end of this 3-month period.
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UOVEY Signals & Forecast
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 $45.09 and $44.67. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). United Overseas Bank Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.503%. Further fall is indicated until a new bottom pivot has been found.
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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.207 between high and low, or 0.457%. For the last week the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: $43.76 (-3.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (UOVEY) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect United Overseas Bank Limited to open at $45.44, and during the day (based on 14 day Average True Range), to move between $44.68 and $46.32, which gives a possible trading interval of +/-$0.82 (+/-1.81%) 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 3.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.59 (0.20%) than the support at $43.59 (4.20%), 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: 3.998 Buy Candidate Unchanged
Predicted Opening Price for United Overseas Bank Limited of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
$45.44 ( 0.141%) | $45.50 |
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 | 45.64 | 0.314 % | |
R2 | 45.56 | 0.140 % | ||
R1 | 45.51 | 0.0324 % | ||
Current price: | 45.50 | |||
Support | S1 | 45.36 | -0.315 % | |
S2 | 45.31 | -0.423 % | ||
S3 | 45.23 | -0.596 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45.73 | 0.505 % | |
R2 | 45.68 | 0.396 % | ||
R1 | 45.59 | 0.198 % | ||
Current price | 45.50 | |||
Support | S1 | 43.59 | -4.20% | |
S2 | 42.82 | -5.89% | ||
S3 | 42.70 | -6.15% |
UOVEY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Apr 25, 2024 | May 20, 2024 | $1.27 | 2.82% |
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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