I have to redraw the flag because neither breakout or breakdown during the Chinese New Year time.

I have no idea when the breakout will happen now because the market sentiment is affected by the cooling measure.

However, if we just look at the chart, I don't see how cooling effect has affected the price. This is a blessing that UIC is one of the best property stock withstand the effect of cooling measure and China effect.

Today is 21 February 2011.

UOL has a very important support at $4.46 which has been tested 3 times since October 2010.

This company is announcing the unaudited full year 2010 financial results on Tuesday, 22 February 2011. This will provide the near term catalyst for the potential rebound.

In fact, the price on last Friday, 18 Feb 2010 has started to breakout of the down trend providing a hint of strong rebound.

It worth to note that the resistant at $4.46 is coupled with a breakaway gap which prevail since October 2010. This will provide a strong support.

In the sea of sell down of property stock, it may be a good time to collect some value stock and gems which has been brutally sell down without convincing reason.