Is UOB still a good buy?

According to Kim Eng:

UOB remains our top pick. Its strong earnings quality, coupled with superior asset quality deserves a premium valuation to peers. The current share price weakness presents a good buying opportunity. Our TP of $21.80 is pegged to 1.8x FY10 PBV. We also recommend a BUY on DBS, with a TP of $17.40, pegged to 1.5x FY10 PBV. We see OCBC as fairly valued now, given the lack of growth catalysts.

The technicals:
Current correction has brought weekly GMMA to longterm MA. Also, seems to be forming a double bottom.

Can be a good entry point if I believe in Kim Eng's argument that "We expect UOB’s net profit to out-perform in FY10, growing 23% yoy, driven by provision writebacks, cost discipline and superior asset quality".

However, need to note that share price now is currently not far off from its historical high. How much more can it go? Nonetheless, if I believe the Singapore market is going to go much higher, then UOB must be the counter that I have to buy.

N.B.
I didn't pursue with this trade, as I just feel that the price is too peakish.