Union Bank Plc Sentiment Analysis Report W/E 300312
Monday, April 2, 2012/ Proshare Research
UBN experienced continued bearish sentiment to close with -22.1% loss as against -22.3% loss recorded in the previous week.
The stock experienced huge sell off, recording new lows throughout the week.
The RSI revealed that the stock is depressed, trading far below oversold region, buttressed by continued distribution observed in the week while money continued to flow out of the stock
Technical conclusion on sentiments: There is a strong bearish sentiment towards the stock while majority of sentiment indicators revealed a depressed posture and strong bearish trend. The chart below shows MACD, candlestick, RSI and volume.
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