BATS:UBS   UBS Group AG Registered
Swiss financial giant UBS rallied to a 15-year high over the summer. Now it’s pulled back, and traders may look for more upside.

The first pattern on today’s chart is the bullish gap on August 11 after management voluntarily ended a government guarantee covering potential losses from its acquisition of Credit Suisse.
UBS rallied for the next month and hit its highest level since 2008 on August 31. It then stalled and worked its way lower through late October.

The pullback resulted in a falling trendline, but UBS broke that resistance in early November and has remained above it since.

The stock is now trying to fight back above its 50-day simple moving average. The 8-day exponential moving average (EMA) has also crossed above the 21-day EMA, a potentially bullish short-term signal.

MACD is also starting to turn higher.

Finally, lower inflation in the U.S. is boosting the Euro. Further weakness in the greenback could favor a global blue chip like UBS.

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