Jul 30, 2012

Trading buy – UOADEV

CUOA Development Bhd (stock code 5200) Properties – RM1.82

below: UOADEV daily technical chart (click to enlarge)


Chart wise: 

UOA Development’s candles sprung up last week. This saw the candles breaking its recent high of RM1.66 last Friday. For now, there continues to be strength for further upsides despite the momentum indicators springing up above their respective upper limit lines.

The lagging MACD has also crossed the trigger line on the upside, providing another positive signal. Therefore, UOA Development’s share is a Trading buy and remains so long as it stays above RM1.65. The resistance is at RM1.90. The other support is at RM1.40-RM1.42 level.

by Mercury Securities

UOA Development Bhd has made it to the Forbes Asia’s 200 Best Under A Billion list, which is made up of small and medium enterprises in the Asia-Pacific region. The property developer was one among 200 companies from 15 countries that made it to the list. Forbes said these companies grew an average 48% last year and generated US$47bil in revenue while employing over 370,000 people. The company, with a market value of US$548mil in the period under review, posted net income of US$121mil on US$194mil in sales. (Star)