Home Capital Right Timing

STI to maintain gradual ascent, UIC’s indicators strengthen

The Edge Singapore
The Edge Singapore 3/12/2021 09:00 PM GMT+08  • 2 min read
STI to maintain gradual ascent, UIC’s indicators strengthen
UIC appears ready to strengthen and to break above $2.45. The STI should remain resilient, as annual momentum continues to rise
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

United Industrial Corp, better known as UIC, has experienced an improvement in its technical indicators. Short term indicators are rising, and quarterly momentum is resilient and appears poised for an upmove. Prices have moved above the 50- and 100-day moving averages at $2.34 and $2.32 respectively. Resistance is at the thrice-tested $2.45 level, and support is at the 50- and 100-day moving averages. A successful breakout of $2.45 indicates a target of $2.90. Since annual momentum is turning up, a breakout is a possibility. Volume is usually required for a breakout, but the free float of UIC is very low, of less than 13%.

The Straits Times Index ended the week (Mar 8-12) at 3,095, up 82 points week-on-week, but below its intra-week high. In the short term, the index may move sideways as short term stochastics eases from the top end of its range.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now