Thursday, March 31, 2016

Union Bank Plc - Short Term Trade

Union Bank Plc, is the lowest trading Stock amongst Banks. But it is still in the growth phase after the take over by their present Owners.
However it is offering a promising short term trade.
It is not very often that you notice many indicators giving buy signals at the same time, but it is the case with UBC at the present moment on the 5day Chart. PSAR has given the 1st buy dot, then the MACD is about to cut the signal line to the top, the 9SMA also sits as the support at 16.60, and the RSI is trending up and now at 27.38 points.

Therefore I expect a return of 5 to 10% for the counter in the Short Term. The set up is as follows:

Enter @ 16.60
5% Exit @ 17.60
10% Exit @ 18.40
5% Stop Loss @ 15.60
Swing Low stop @ 14.20.


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