About a month ago in May we actually spotted this stock call UOL approaching its key support at 6.80 and a note was sent out…
Was looking at a pretty good rebound where one can possible accumulate since the trend was up too then….
See chart that was sent out on the 18th May where price was about 6.86…. where we predicted a rebound to probably about 7.30 short term target…
Indeed the rebound occurred over the next few days and it hit 7.30……
But then we saw some new price action about 2 weeks ago again….
And another note was sent out, of course with a new chart with a new HIGHER target again….
See chart below again… Target raised to 8.00…
Today, have seen our target at 8.00 hit and also a slight breached through today.
But seeing some profit taking for now near 8.00 which is normal given the spike experience today where some might want to take some money off the table...
Arrows drawn has indeed played out nicely over the past 2 months and over the past 2 charts..
Upside may not be over but would also be good to lock in some profits and protect J
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