Stock in Focus: Union Bank of the Phils. (UBP)

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The chart of Union Bank of the Philippines (stock symbol: UBP) still looks messy, but price action has been favorable to the bulls since late-March.

Philippine Stock Exchange, Union Bank_UBP Daily chart, May 13, 2014

UBP Daily chart, May 13, 2014

The 120 level has provided support since then. Now, UBP is trading in the 127s and looks ready to climb further toward 130.

I hope you reaped some benefit from my advice in the previous post. If you are watching or interested in UBP, the ideal scenario would be to see this stock trade in the 130-140 region in the next 2-6 weeks. Throughout this period, 120 will remain as critical support.

The MACD Oscillator (MACD-O) trades comfortably above the zero level.

Do you have UBP in your portfolio? Share your thoughts below!



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