Selected property stocks strengthen, small cap developers could follow as indicators turn

UOL Group appears poised to break out of its twice tested resistance at $7.80 to $7.90. A successful break appears almost imminent. In this event, the immediate upside would be around $8.50. Quarterly momentum is skimming off its equilibrium line and appears poised to move above its resistance line at its own moving average. Volume remains modest but could expand in the week of Mar 29 - Apr 1.

Already, UOL’s subsidiary, United Industrial Corp has broken out of the top of a multi-month base at $2.45 indicating an initial upside of $2.90. Its medium term indicators have turned increasingly positive.

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