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BUZZ-Singapore's UOB gains most in 6 mths; may test resistance at S$28.56 - technicals

** Shares of United Overseas Bank Ltd gain as much as 3.43 pct, their biggest intraday gain since Feb. 13

** Stock breaks above a resistance at S$27.48, the 23.6 pct Fibonacci projection level of the uptrend from Sep. 21, 2017 low to April 30, 2018 high (wave 5) reut.rs/2OiTXnB

** Breakout suggests the stock may test the next resistance at S$28.56, the 38.2 pct level

** Stock’s wave pattern suggests it may have completed a corrective cycle and is in wave 1 of a new five-wave uptrend

** Trend Intensity (TI) indicator rises to 16, suggesting prices are trending upwards

** MACD is also positive and above its signal line

** Stock up 2.57 pct this year as of last close, while the broader index is down 3.46 pct in the same period

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