Friday, June 5, 2009

PHILIPPINE STOCKS: UBP (UNIONBANK OF THE PHILIPPINES) 6-5-2009


In the 1st picture, a chart of UBP dating back from 1996, the stock price has bounced of its 10yr support (violet dotted line). The 2nd picture at a closer view, UBP has broken out of a resistance (green dotted line since January of 2008). 26.5 per share looks like a good buy for UBP but a better bet is when the price breaks out of the cup and handle formation's (indicated by the bigger red arc is the cup and and the smaller red arc indicates the handle) resistance line (red horizontal line). Closing above 27 is my best bet! Click image to enlarge!

2 comments:

Catlina said...

Wow, this is a good pick in the Philippine Stock Exchange. The returns of this stock looks promising once it breaks out! I'm gonna get my eye on this!

van wilder said...

Philippine Stocks are rising again! Hopefully, technical analysis will work most of the time in the Philippine Stock Exchange... Well yeah, this stock looks good!