Following up from call last week, UMS seems to have found a new support at 0.64 and pushing higher today further.
Can it head towards the 0.68 – 0.70 target as mentioned last week.
Some resistance at 0.67 for now but after that should be good to go where one can consider locking in some profits.
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MACD indicator still pulling upwards positively on this move. Let’s see when to take some money of the table.
Recent Email:
Sent: Thursday, February 02, 2017 10:08 AM
Subject: ****** UMS: Approaching the key resistance, may see some actions soon, price 0.635
Subject: ****** UMS: Approaching the key resistance, may see some actions soon, price 0.635
After consolidating below 0.64 since April last year, finally yesterday, we saw a move to close the gap again with it attempting a move above but to no avail. Only a specific price action can see more strength and an end to the sideways phase for the past 6 months. It has been support above the upwards sloping channel support line with uptrend still intact so far but waiting for buyers to take it to a new level convincingly. Watching.
For illustration purpose only
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