Monday, September 16, 2013

********** Impending Breakout: UPP. Share price at 0.385 closed today. (Can it cross the CRITICAL 0.400 ? Not today..... Lets see when......)

Following up from Previous call made on 3rd September 2013. UPP has again tested the 0.38 resistance level again today with a high set at 0.39. Seen in Top 20 volume today.  UPP has consolidated below the critical 0.38 resistance level since Jan this year and today we have seen it attempting to break above it again. Monitor closely for the breakout of 0.385 level, will be a positive in the near term if the 0.39 clears out tml and we see it push higher. Ultimately, Critical resistance would still be at 0.400. We would considering putting a BUY stop at 0.405 to 0.41 as any break up above the psychological 0.400 resistance level can be a further confirmation of short term upward momentum. Support at 0.35 currently. A break above 0.400 can pave the way to 0.44 to 0.45 fast to test previous highs set in April and Oct 2012.
Stop loss at 0.385 for long position on the break of 0.400.

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