Is UBC going to change it's direction?

chamith · 1 Is UBC going to change it's direction? Sun Jun 12, 2011 5:56 pm

chamith

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I did some technical analysis on UBC and found that it may change its downward direction soon. There are no much historical data about the counter to further confirm patterns. But Stochastic Oscillator shows that its at its bottom. Interesting part is that Cash map shows 77.28% as of 10/06/2011.
Bid trades turnover 17.2 million
Offer trades turnover 5.0 million

Day's volume is high when looking at the charts. UBC had one rally from 12 May - 23 May since its opening day. Looking at previous rally's volume, it seems that present volume supports for at least a temporarily upward trend.

I do not hold any UBC shares at present, I disposed all on the opening day. Not a buy/sell advice.

Akalanka · 2 Re: Is UBC going to change it's direction? Sun Jun 12, 2011 6:11 pm

Akalanka

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chamith wrote:I did some technical analysis on UBC and found that it may change its downward direction soon. There are no much historical data about the counter to further confirm patterns. But Stochastic Oscillator shows that its at its bottom. Interesting part is that Cash map shows 77.28% as of 10/06/2011.
Bid trades turnover 17.2 million
Offer trades turnover 5.0 million

Day's volume is high when looking at the charts. UBC had one rally from 12 May - 23 May since its opening day. Looking at previous rally's volume, it seems that present volume supports for at least a temporarily upward trend.

I do not hold any UBC shares at present, I disposed all on the opening day. Not a buy/sell advice.

Yes , i think you are right too. it is having a support at 27.50 and is having a resistance also at 30.00 if it can break 30 there will be more uptrend, but dont sure weather it reach the previous heights. Cus there may be lot to exit at the next upcoming hike. ..

But in next week the market may largely concentrated on EXPO, BLUE ,PAP and LGL may be so this may reduce the chance of creating a big upward momentum..

lets see

invest-abc · 3 Re: Is UBC going to change it's direction? Sun Jun 12, 2011 9:04 pm

invest-abc

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chamith wrote:I did some technical analysis on UBC and found that it may change its downward direction soon. There are no much historical data about the counter to further confirm patterns. But Stochastic Oscillator shows that its at its bottom. Interesting part is that Cash map shows 77.28% as of 10/06/2011.
Bid trades turnover 17.2 million
Offer trades turnover 5.0 million

Day's volume is high when looking at the charts. UBC had one rally from 12 May - 23 May since its opening day. Looking at previous rally's volume, it seems that present volume supports for at least a temporarily upward trend.

I do not hold any UBC shares at present, I disposed all on the opening day. Not a buy/sell advice.

Ya. I also agree with you. I have observed few "Doji's" within the last 3 to 4 trading days. These seem to form near the support of around 27.3, supported by fairly good volume. But I don't expect a big rally as such, but could have a small run with thin volumes.

gann · 4 Re: Is UBC going to change it's direction? Sun Jun 12, 2011 11:38 pm

gann

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on friday i cleared the first lot at 28 and it created a minor rally to took it to 29.50. Which means there were many collectors waiting. I sold half to cover the risk since the support is 27.5. But what was interesting was b4 it reached 30, alot of sell orders of 100,200 lots came to kill the rally.