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KarYong
Sep 7, 2017 6:51 AM

UOB - Short term downside potential Short

UOBSGX

Description

For those interested in Singapore equities market, here's one potential setup.

Price has been rallying since the low in 2016 @ 16.77 to the recent high in 2017 @ 24.59. Price has developed a complete 5 waves structure, and according to Elliott Wave principle, we are now expecting a potential 3 waves retracement.

This gives us a potential short term trade targeting 22.66 - 22.94 area.

Disclaimer - do your own due diligence before shorting this stock.
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