UOB: Overbought at resistance

UOB currently at $20 horizontal resistance level.
Strategy: open short position at resistance.


Outcome:

1 Aug: Opened SHORT at $19.79
14 Sep: Covered at $19.14
Reason for closing: Inverted hammer and oversold stochastic oscillator seen on 3 Sep.
Note: XD on 30 Aug, dividend of $0.20
Profit $0.45, 2.3%

UOB: Meeting resistance at bottom of cloud

Trend identification tools show down trend in weekly time-frame.



Trend identification tools show down trend in daily time-frame.
Price has been meeting resistance at the bottom of the cloud.


Outcome:

22 Dec: Opened SHORT at $15.66
13 Jan: Covered at $16.20
Reason for closing: Price moved above the cloud and stop-loss triggered.
Loss $0.54, 3.4%