Trading UOB's Symmetrical Triangle: Preparing for the 22 Feb 2024 Results
Following $DBS Group Holdings(D05.SG$ Earnings (read my post on DBS Q4 results - why investors are liking it (for now)), I am assuming a few things:
Technical pointers:
1. The price will continue to trade inside the triangle pattern until a breakout occurs.
2. The short-term trend shows upward movement, indicating that a retracement to a support zone at 27.66-27.73 provides the current directional bias.
3. Since the price is trapped in a triangle, I am adopting a short-term trading strategy.
Short-term tradeable instruments:
Since trading into earnings is high risk with a potential for swift and large price movement, an instrument like daily leverage certificates and warrants that offer limited risk will be more suitable in my opinion.
What I mean is that for these instruments, the maximum loss is the price of the instrument that you bought. If you buy at $0.10 on a 100 units, then your total loss will be 0.10*100 = $10
Some short-term instruments for UOB:
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