A bank pick of mine from the Philippine stock market would be Union Bank of the Philippines. This isn’t because I love the bank but its stock price is showing signs of bullishnes. In the chart we have here, we can see that UBP had come out of its downward resistance (green dotted line) last February and now it’s consolidating sideways. As far as I can see, a possible cup and handle chart pattern (biggest red arc idicates the cup and the small red arc indicates the handle) is being formed in the chart. This will only be confirmed once the price passes thru the resistance line (red horizontal line) or breaks out of the cup and handle with my minimum target price set at 33. Click image to enlarge!