Chart View – Sheng Siong, AEM, UMS & YZJ

Price broke above $1.32 and has been moving higher. The Ichimoku breakout has a V shaped target at $1.63. We should be approaching this target soon. MACD is getting weaker. We may see a pullback when price reached the target.

Price reached a high of $3.40 in the form of a Doji Star. This a a top warning. If price were to close today below $3.10, an Exhaustion Gap would have been formed. This is another trend reversal sign. We think price could have made a temporary top. We see a pullback to $2.70.

Nothing special about this stock. Price is capped by the upper gap of the cloud which is flat at the moment. This is also the Fibonacci 50% correction point of the decline. MACD is flat. Wait for clearer direction.

Our target remains unchanged at $1.13 Here is the link to the recent blog posting

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