Following up from blog post a few weeks back >> http://singaporetradinginsights.blogspot.com/2018/11/ums-may-still-play-out-towards-target.html
Seems like more selling has returned for this counter…
After the previous post, it has actually staged a rebound towards the 0.64 resistance where some selling were expected again..
Some downside targets were reiterated then as seen below with the downtrend continuing…
Sellers were just here to take it lower on any slight rebound we have spotted…
Today, we have already hit our target at 0.55 where some short covering is seen…
But downtrend still remains intact below 0.60 now imo and..
More weakness not ruled out on more bearish price actions if 0.55 breaks too..
To 0.50 probably?
Well, it was also mentioned that we had a Bearish signal on system on the previous post…
The exit came BUT A new one came out again recently…
Still no exits… See below for targets reiterated last week…
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