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.
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