Wednesday, June 21, 2017

UMS: System triggered exit signal then a furious sell down last week, but now what? Upside over? Price 1.08

Following up from previous post where we were seeing UMS consolidating above 1.20 and our target hit >>>

Finally we saw this 1.20 support broke down last week furiously.

And down it traded all the way to about 1.05 before finding some stability…

There were some bullish signals that we saw that alerted us to this counter in March and April.…. and up it went all the way till last week.

Just to share that before the sell down last week, we actually saw an BULLISH EXIT signal…. See below.

For illustration purpose only

So now what?

Well, after the heavy sell down, we have seen it consolidate from 1.05 to 1.15 for more than a week and it seems like a new support has been found again.

See what I mean below…

Looking to see any specific price action which can lead the recovery again above 1.15….. 

Not yet for now.

Perhaps we will get a signal on the system again then… we will be checking to see what it says or if any alerts…

Let’s see…. 

Anyway, longer term uptrend still intact above 1.00 – 1.05 for now… J

For illustration purpose only

No comments:

Post a Comment