Union Bank of India: Watch before you leap.📊 Technical Analysis Report: BSE:UNIONBANK
📅 Date: September 11, 2023
🕣 Time: 08:28 AM
📌 Introduction
The following report provides a 📈 technical analysis for Union Bank of India as of September 11, 2023. The stock 🛑 closed at 88.10 on the last 🗓 trading day (Friday).
📊 Key Metrics:
🔒 Last Close Price: 88.10
50 -Day Moving Average: 📉 Under selling pressure
🔄 Asset Turnover Ratio: 📉 Low
📊 Return on Equity (ROE): 1️⃣3️⃣-1️⃣4️⃣%
💵 Price-Earnings (P/E) Ratio: 5️⃣-6️⃣
📈 Technical Indicators:
📊 MACD (12,26,9): 🕒 Yet to show crossover, expected in a day or two
📈 Stochastics RSI:
K: 3️⃣1️⃣.1️⃣2️⃣
D: 2️⃣9️⃣.4️⃣7️⃣
📉 Percent R: -6️⃣3️⃣.4️⃣8️⃣
📈 Fisher 9:
Trigger: 0️⃣.6️⃣6️⃣
Fisher: 0️⃣.2️⃣5️⃣
🎯 Entry, Target and Stop-Loss Levels
🔥 For Aggressive Traders
🎯 Entry Price: 9️⃣0️⃣.8️⃣5️⃣ (0.5 Fibonacci Levels)
🏁 Target Price 1: 9️⃣2️⃣.4️⃣0️⃣
🏁 Target Price 2: 9️⃣4️⃣.3️⃣0️⃣
🛑 Stop Loss: 8️⃣8️⃣.1️⃣0️⃣
🐢 For Conservative Traders
🎯 Entry Price: 9️⃣2️⃣.2️⃣5️⃣ (0.618 Fibonacci Levels)
📝 Conclusion:
While 📘 fundamental aspects like ROE and asset turnover are not too promising, the low P/E ratio indicates a potential 💰 cheap entry point .
🔥 Aggressive traders can consider an entry at 90.85 targeting 92.40 and 94.30, with a stop loss at 88.10. 🐢 Conservative traders can enter at 92.25.
⚠️ Disclaimer
📝 This report is for informational purposes only and should not be considered as 💰 financial advice. Investors are advised to perform their own due diligence 🕵️♀️ before making any investment decisions.
🏷️ Hashtags
#️⃣UnionBankofIndia #️⃣TechnicalAnalysis #️⃣StockMarket #️⃣Trading #️⃣Finance
