I have been accumulating UOB for some time, as its quarterly results and price seems to be lagging both DBS and OCBC. Expanses remain high from its Citi acquisitions which should be good for the longer term, but depressing net profit in the short run...
Fri's volume was very high at 14 million, than its 52 week average volume of just 3 million. This shows that the BBs are aggressively accumulating UOB with the hope of selling it even higher. Coupled with China govt under-whelming announcements to prop up its weak economy, there could still remain some price strength next week
Still a bird at hand is better than two in the bush, and it's never wrong to take some money off the table. Surely we need to reward ourselves a little, eating some nice food and enjoying life for our hard work 😅
Press on Financial Warrior, YOU Mighty Man of Valour!
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