Technical Analysis Of UBS AG (UBS)

UBS (UBS) formed a nice long while candle, forming a kicker signal. This is in addition to the previous kicker around $16. Notice how UBS broke through, and stayed through the 50-day MA? That’s a sign of obvious strength. UBS faces two more resistance levels (the primary trend as well as at $26) before it may proceed to the 200-day MA. This is dependent upon Monday’s action and if UBS can stay above the 50-day MA and it is possible that the stock may form several gaps up without needed consolidation.

Notice the difference between the Financials sector (XLF) and UBS? UBS AG (UBS) is a financial that did not sell off throughout the day.

In fact, UBS drifted higher as other financials like Morgan Stanley (MS), Merrill Lynch (MER), Goldman Sachs (GS), and Bank of America (BAC) drifted lower, forming a bearish gap up.

If UBS looks like it will gap up in pre-market hours on Monday, then there is a high chance that intra-day momentum will continue to the upside. Obviously, this is dependent upon the action of the overall market.

Subscribe by RSS Subscribe by Email